Dubai Properties gets cracking with Culture Village projects

dubai - Construction in full swing at Dubai Wharf and Manazel Al Khor

Culture Village, nestled between Al Garhoud Bridge and Business Bay Crossing on the banks of the Creek, will soon turn into a hotspot of activity. While the Palazzao Versace Hotel and D1 residential tower are already operational and handed over, Dubai Properties, the master developer, is upping the ante on its projects in Culture Village.

Construction is in full swing on Manazel Al Khor, a low-rise luxury residential and retail project, and Dubai Wharf, a four-tower residential development, in Culture Village. Spread across three million square feet, the two projects are part of the first phase of development in Culture Village. This phase also includes a five-star 290-room Anantara Dubai Creek Hotel.
Manazel Al Khor includes 98 apartments (one- to four-bedroom units) and these are slated to be handed over by the end of this year. The project is around 82 per cent complete.
"Majority of the apartments have been sold. Prices here start from Dh1.5 million," said Abdulla Abushabib, senior executive director for customer care and government relations, Dubai Properties.
The Dubai Wharf, featuring 582 homes and 110 retail and F&B outlets, is being developed in phases. While towers 1, 2 and 3 (five buildings) will be delivered in Q1 2017, tower 4 will be handed over in Q3 2017. Two floors of retail will also be handed over in the same quarter.
Over 64 per cent of Dubai Wharf construction is complete. Engineering Contracting Company is the contractor and Lacasa is the architect.
"Around 95 per cent of what we have launched has been sold. A few more will be released to the market soon. The cost of homes will run into the millions," said Abushabib.   Mock-up apartments in Dubai Wharf and Manazel Al Khor will be open next week. A 6km retail and F&B promenade will run through the entire stretch of Culture Village. Around 270,000 sq ft of retail is available for lease across the development. 
"We have started receiving requests from retailers for space on the promenade," said Masood Al Awar, chief officer - commercial of Dubai Properties. 
Air-conditioned walkways and bridges will connect all projects in Culture Village.
In terms of infrastructure, all roads, electricity sub-stations, sewage and water networks are complete in Culture Village. The landscaping contract has been awarded to Al Bayader and phase 1 will be completed by Q3 2016. 
Culture Village is within walking distance of the Al Jadaf Metro station and water taxi services will also eventually be a part of the mix. The Roads and Transport Authority (RTA) has approved a new access from Sheikh Rashid road to Culture Village.
"We are working with the RTA to ease access to Culture Village. This will be in time for the opening of Manazel Al Khor by the end of 2016," added Al Awar.
The marina in Culture Village is being redesigned. The number of berths is being altered to accommodate requests from bigger vessels.
Dubai Properties has finished enabling works on the Anantara Dubai Creek Hotel. Construction is planned to be complete by Q2 2019. The hotel contractor will be awarded in the next quarter.
Culture Village will also include an art centre, museum and library, details of which will be announced later. 
All plots have been sold out in Culture Village. "We don't have any defaulting sub-developers. We have received several design approval requests from sub-developers. A lot of building permits been granted. All have completed payments and we have had zero termination of contracts at Culture Village," informed Abushabib.
The entire project will be completed in line with market demand. "We are phasing out the project to capture investor appetite. We are controlling the release of inventory. There is high growth potential," added Al Awar.
-         deepthi@khaleejtimes.com