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October 8, 2014

Omniyat and Drake & Scull break ground on $544.4m One at Palm Jumeirah, Dubai

Parisian hotels made big profits in the first three months of this year, according to the HotStats research, conducted by TRI Hospitality Consulting. The research revealed that chain hotels in the French capital enjoyed a 28.7 % hike in profits. However, the Russian capital of Moscow w

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Middle East-based developer Omniyat and Drake & Scull International (DSI) has broken ground on a new residential project at the entrance of the Palm Jumeirah in Dubai.

The AED2bn ($544.4m) project named One at Palm Jumeirah will feature apartments ranging in sizes from 2,500ft² to 20,000ft².

Omniyat Group executive chairman and CEO Mahdi Amjad said: "We are absolutely thrilled to break ground today on what will be, in the near future, one of the finest residential developments anywhere in the world.

"One at Palm Jumeirah is specially crafted for the most privileged of the privileged few."

"Throughout the next three years, the Omniyat Group and DSI will work jointly to build this magnificent building to a standard, well beyond anything seen in high-end development."

The 25-storey residential building will be designed by Soma architects from New York, Super Potato from Japan and Vladimir Djurovic from Lebanon and feature 90 spacious apartments.

Elaborating on the facilities, Amjad added that the development will also have swimming pools, indoor and outdoor, cinema, cigar lounge, super luxury spa and yacht club. One of the key design features of the One at Palm Jumeirah will be the 20,000ft² penthouse that will provide 360-degree view of Dubai’s skyline.

DSI vice-chairman and CEO Khaldoun Al Tabari said: "One at Palm Jumeirah is specially crafted for the most privileged of the privileged few, which shows the commitment which is reflected in our design approach.

"The selection of this development was based on the strengths of the partners and teams, vision for the property and dedication to create an outstanding residential project."

Image: The $544.4m residential project will be located at the entrance of the Palm Jumeirah in Dubai. Photo: courtesy of Richard Schneider.

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