Overseas property investors will be glad to hear that the iconic Park Towers are now rising at a rate of one floor a week. The luxury real estate is located in the Dubai International Finance Center and is moving upwards at a rate of knots according to the developer DAMAC Properties. The two towers will be a mixed use development with apartments, offices and retail properties available. The 30 story buildings are expected to be finished and ready for move-in in 2010.
The current plans for Park Towers calls for more than 400 apartments in one to three bedroom arrangements. Every apartment has a wide balcony, offering views of the financial center and the heart of the new Dubai. There will also be 10 floors of commercial space, with seven for offices and three for retail shops and restaurants.
Peter Riddoch, CEO of DAMAC Properties, is very excited about the new buildings: “To be able to live at the heart of a financial district and be at the centre of the action with stock markets, banks and financial institutions just minutes away is both convenient and important to the people who work in this sector.” He continued, “However to combine with this with well designed apartments set in lush green landscaping with walkways and waterways helps to creates an ambience of home and a sense that you can still get away from the stresses of every day – even in the middle of a buzzing city like Dubai.”
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