{"id":10336,"date":"2016-04-10T23:06:07","date_gmt":"2016-04-10T16:06:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=10336"},"modified":"2016-04-10T21:19:31","modified_gmt":"2016-04-10T14:19:31","slug":"dubai-creek-tower-can-become-landmark-for-city-emaar-chairman-says","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-creek-tower-can-become-landmark-for-city-emaar-chairman-says\/","title":{"rendered":"Dubai Creek tower can become landmark for city, Emaar chairman says"},"content":{"rendered":"


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\nThe new tower being planned for the Dubai Creek has a solid business case and could well become a new landmark for Dubai, says the chairman of Emaar Properties. The tower will be the centrepiece of the 6-square-kilometre Dubai Creek Harbour district that will be more than double the size of its Downtown Dubai district, which has Burj Khalifa as its centrepiece.”If you go to Downtown and Burj Khalifa, you can tell that the volume of traffic, activity, trade, tourism and business in general is almost to the rim, to the max,” said Mohamed Alabbar.
\n“Downtown is the most prestigious thing and we will always keep it because that is what built our credibility. But it doesn’t mean we have to stop. We need more space. We are close to our last few buildings. This is a gift to us and we are going to look after it.”Mr Alabbar said that although people may question the need for another tower, flats in Paris with views of the Eiffel Tower, even with not especially good views, can attract premiums of 15 to 30 per cent.
\n“We’ve realised over time that many of our customers would like to have that view,” he said. The tower will sit in the middle of a development that will contain a 4.5km boardwalk, 11.16 million sq metres of retail space, 6.79 million sq metres of residential space, 22 hotels, 851,000 sq metres of commercial property and a yacht club and marina.”We are in the real estate business. We have to do business at the same time and make some money for our shareholders. That’s the ultimate message,” said Mr Alabbar. “But so much can be done with elegance, with beauty and with adding something very special to your society.”
\nHe said that the development of the creek, which is being done in conjunction with Dubai Properties, was unique because “it’s the first time that the city comes back to its soul”.”The creek is really at the root of the city and it’s time that we go back and pay respect to the core of this city of Dubai.”When asked on the sidelines how Emaar was performing in what has proved to be a difficult market for investors during the past 18 months, Mr Alabbar said that “cycles happen in all economies and all cities worldwide”.
\n“If you ask me about my numbers, I don’t see any pullback. We are doing better than 2015.”Other developers might not be doing so well, maybe they are not looking after their customers well, maybe they are not doing their marketing right, maybe their unit configuration is not right. To do well you have to go long term, you have to have a strong balance sheet, you have to believe in your customer and you have to believe in the market.”
\nHe argued that Emaar’s continued growth was down to “good management”.”Honestly, we are managing much tighter than last year. The organisation is so much better. But within the next two months we will get better [again] because we are deploying new systems.”Emaar yesterday made a brief announcement to the Dubai Financial Market that its chief executive, Abdulla Lahej, has “discontinued his role” at the developer. His responsibilities are now being handled by the chief operating officer, Amit Jain.
\nLast week, the head of residential valuations for Cluttons in Dubai, Richard Paul, said the market for residential property was still 20 per cent below the peak achieved back in 2008. He expected prices to drop by another 5 per cent in the emirate by the end of the year. mfahy@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Dubai Creek tower can become landmark for city, Emaar chairman says<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The new tower being planned for the Dubai Creek has a solid business case...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-10336","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-2GI","jetpack-related-posts":[{"id":15722,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-tower-at-dubai-creek-to-be-100m-higher-than-burj-khalifa\/","url_meta":{"origin":10336,"position":0},"title":"The Tower at Dubai Creek to be 100m higher than Burj Khalifa","date":"June 7, 2016","format":false,"excerpt":"\r The new tower being built at Dubai Creek Harbour by Emaar Properties will be 100 metres taller than the Burj Khalifa, according to Emaar Properties' chairman Mohamed Alabbar.According to CNN, Mr Alabbar has said that work will start on the project to build the tower next month. Designed by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4045,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/comparable-to-burj-khalifa-emaar-unveils-latest-iconic-tower\/","url_meta":{"origin":10336,"position":1},"title":"\u201cComparable to Burj Khalifa\u201d: Emaar unveils latest iconic tower","date":"February 7, 2016","format":false,"excerpt":"\r Centrepiece of Dubai Creek Harbour approved by Dubai Ruler, designed by Santiago Calatrava Valls\r \r Source : arabianbusiness.com\r Read more...\u201cComparable to Burj Khalifa\u201d: Emaar unveils latest iconic tower","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4021,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/architects-keen-on-calatrava-designed-tower-at-dubai-creek-project\/","url_meta":{"origin":10336,"position":2},"title":"Architects keen on Calatrava-designed tower at Dubai Creek project","date":"February 8, 2016","format":false,"excerpt":"\r \r The new Santiago Calatrava-designed observation tower, which will be the centrepiece of Emaar Properties' Dubai Creek project, has been welcomed by architects. The tower's design was approved by Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, on Saturday, following an international design competition featuring\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10330,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-creek-viewing-tower-to-be-taller-than-burj-khalifa\/","url_meta":{"origin":10336,"position":3},"title":"Dubai Creek viewing tower to be taller than Burj Khalifa","date":"April 10, 2016","format":false,"excerpt":"\r \r DUBAI \/\/ Emaar Properties, the developer of the Burj Khalifa, says it plans to build an even taller tower in Dubai. Emaar Properties Chairman Mohamed Alabbar said Sunday the new observation tower would be \"a notch\" taller than the Burj Khalifa, the world's tallest buiding.He would not say\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10816,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-tower-at-dubai-creek-harbour-a-close-look-at-skyscraper-set-to-top-burj-khalifa-video\/","url_meta":{"origin":10336,"position":4},"title":"The Tower at Dubai Creek Harbour: A close look at skyscraper set to top Burj Khalifa – video","date":"April 17, 2016","format":false,"excerpt":"\r \r Emaar Properties will attempt to deliver the new Dubai Creek tower and a linked \"mega-retail district\" in time for Expo 2020.The architect behind the new US$1 billion tower says it will represent a nation like The Eiffel Tower, while Emaar chairman Mohamed Alabbar said it would probably \"be\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10344,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-to-build-tower-higher-than-burj-khalifa-and-new-mega-retail-district-for-expo-2020\/","url_meta":{"origin":10336,"position":5},"title":"Emaar to build tower higher than Burj Khalifa and new 'mega-retail district' for Expo 2020","date":"April 10, 2016","format":false,"excerpt":"\r \r The architect behind a new US$1 billion Dubai tower that will stand higher than Burj Khalifa says it will represent a nation like The Eiffel Tower.The Paris landmark was built for the 1889 Paris Expo.Now Dubai's Emaar Properties is aiming to emulate that architectural impact as preparations get\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/10336"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=10336"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/10336\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=10336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=10336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=10336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}