Tameer Towers Set For 2011 Completion

Abu Dhabi: Real estate developer Tameer plans to hand over the residential phase of its Tameer Towers in Abu Dhabi in June 2011, and the commercial stream will be handed over to the buyers the following December, a senior company executive told Gulf News in an interview. Dr. Abdullah Shaaban, managing director of Tameer - Abu Dhabi, told Gulf News that Tameer's portfolio in Abu Dhabi together with partner Sorouh Real Estate is Dh30 billion. We have two projects in Abu Dhabi - Tameer Towers and The Gate. We are a 40 per cent partner in The Gate and a 75 per cent partner in Tameer Towers," said Shaaban. He added that their joint venture with Abu Dhabi's Sorouh was finalised early in 2007. He said 40 per cent of Tameer Towers and 40 per cent of The Gate have been sold.

Tameer and Sorouh have finalised an agreement with a joint venture comprising Al Habtoor Engineering, Murray & Roberts and Al Rajhi Projects to construct the Tameer Towers in the capital at a cost of Dh6 billion, bringing the total cost of the project to Dh8 billion. Our residential prices range from Dh1.2 million for a studio apartment to as high as Dh40 million for a penthouse, Shaaban said. We have a wide range of apartments, fitting all budgets. Tameer's original plans include building six towers in all in Abu Dhabi which will be known, according to Shaaban, for their height, architecture and location. The project is located opposite the Beach Rotana Hotel in Abu Dhabi.