Construction on the AED 785 million ‘Paradise Lakes Towers’, a residential complex in Ajman comprised of eight 31-storey towers, is advancing at breakneck pace, according to Sweet Homes Holdings (SHH), a leading UAE-based developer and multi-service provider to the real estate sector. In addition, the company also reiterated the confidence of R Holdings, the master developer of the ‘Paradise Lakes Towers’, in the three contractors it has commissioned to complete the project. Sweet Homes, who is also in charge of the exclusive marketing initiatives for the project, further revealed that 95 per cent of ‘Paradise Lakes Towers’ has been sold.
The leading UAE-based contractors who are currently working on the projects include Al-Deewan Development (for Towers B2, B3 and B4); Construction Tech (for Towers B5, B6 and B9); and Bekon Constructions (for Towers B7 and B8). Sweet Homes confirmed that construction works is continuing despite the challenges of the current recessionary period. It has also revealed specific status for all the towers, with B2 already having concrete columns and shifting of slab table on the 4th floor; B3 seeing steel fixing of core-wall concrete of columns on the 6th floor; and B4 having its bottom steel installed on the 8th floor. The rest of the towers have also recorded excellent progress, including B5 (shuttering foundation of columns – 13th floor); B6 (setting of slab table – 9th floor); B7 (column and corner wall casted for floor slab – 22nd floor); B8 (foundation and shuttering of columns – 23rd floor); and B9 (ready for casting up to 13th floor).
“Construction on the ‘Paradise Lakes Towers’ is progressing at a tremendous rate, and we are confident that its impending completion will further boost the sales prospects for the project among investors,” said Fahad Sattar Dero, CEO, Sweet Homes Holdings. “We are proud to be a part of this project along with these competent contractors, which further strengthens our repute as a multi-service provider to the real estate market.”
Named after the lakeside views and surrounding lush greeneries, ‘Paradise Lakes Towers’ is a 20-minute drive from the Dubai Airport, and boasts of a 15,274 sq. feet entertainment zone, and a five-story built-in parking, four high-speed elevators, a full floor of exercise facilities, a swimming pool and game area, central air conditioning, and satellite TV in all the towers. Designed by the Adnan Saffarini Engineering Consultants, ‘Paradise Lakes Towers’ is part of Emirates City, a development comprised of 92 residential and commercial towers, which will be launched in a phased manner.
“Working with a leading Master developer such as R Holdings for the exclusive marketing initiatives for ‘Paradise Lakes Towers’ is truly exciting for us and enriching for our portfolio. In addition to strict adherence to regulations set by ARRA, including the establishment of escrow account for the project, we are confident that our involvement in the development’s marketing and promotion will contribute to its overall success, which beats odds of the current economic upheaval,” concluded Dero.