Memon Investments, a leading Dubai-based property developer and part of the Memon Group of Companies, has announced unveiled of the Dh338 million Frankfurt Sports Tower I in Dubai Sports City. Emanating a German-inspired ambiance, FST I is slated for completion by the first quarter of 2011. The real estate developer has also registered an Escrow account for this freehold residential tower with the Commercial Bank of Dubai.
Ahmed Shaikhani, MD, Memon Investments, said, "Our project portfolio in the UAE, which now comprises 6 high value residential and commercial developments, is a testament to our unrivaled focus to deliver top-caliber built spaces. With the outstanding success of our developments in Dubai Sports City, we have decided to make this prime location as the home of the Frankfurt Sports Tower series."
Frankfurt Sports Tower I will comprise 224 units, including 140 studios, 56 one-bedrooms and 28 two-bedroom apartments within a total built-up area of 177,378 sq. ft. The tower will also feature two levels of basement parking and covered parking on the ground floor, a concierge desk and roof top health club. The launch of the residential property is in line with the developer’s plans to launch over 10 projects valued at over Dh3 billion in the UAE in the second half of 2008.[Pakistan Housing News]