Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News


Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 
The feature you requested does not exist. However, we suggest the following feature:

Damac Properties Dubai : to join hands with Versace Home for its first project in London

07/06/2015 | 07:22am US/Eastern

Michael Fahy

Damac Properties has released more details of its first project in London.

According to the Dubai-based developer, it has a 20 per cent share in a joint venture that is developing a 50-storey tower at Nine Elms. The area is part of the Vauxhall district of London on the south bank of the River Thames.

The tower would have 685,000 square feet of space for 450 apartments, 35,700 sq ft of office space and 7,800 sq ft of retail space, Damac said in a statement to the Dubai Financial Market.

Damac said the tower was likely to generate total sales revenues of about £500 million (Dh2.85 billion), but it would not book profits until the project was completed some time in 2020.

Meanwhile, Property Week, a publication based in Britain, said Damac would again partner the Italian fashion house Versace to create branded apartments at the tower.

Damac had joined hands with Versace Home, the interior furnishing arm of the fashion house, for projects in Saudi Arabia and Lebanon.

The 170-metre-high Nine Elms tower has earned the nickname "Jenga Tower" because a design featuring what appears to be overlapping sections of blocks secured planning approval from the London Borough of Lambeth last August.

It will feature luxury flats and will link to a lower-rise building housing offices, a number of affordable units built as part of planning conditions, and retail space.

Plans for the building had been submitted by the joint developers McLaren Property and Citygrove, who are understood to have sold the site to Damac and its partners in April.

Designs for the tower were created by the New York-based architecture firm Kohn Pederson Fox Associates.

A Damac spokesman said the company could not comment further on the project.

Damac's first project with Versace was at the Al Jawharah Tower, which was completed at Jeddah's corniche last year. The top 10 floors of the 47-storey tower houses Versace Home-branded apartments.

Damac is also building a 28-storey tower in Beirut featuring Versace Home-branded flats. It is due for completion next year.


Follow The National's Business section on Twitter

(c) 2015 s Abu Dhabi Media Company, All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

React to this article
Latest news
Date Title
07:22a DAMAC PROPERTIES DUBAI : to join hands with Versace Home for its first project in London
07:21a JORDAN DUBAI ISLAMIC BANK : Dentsu Aegis Network partners with The Hub in Jordan
07:21a WARTSILA ABP : MAN Diesel & Turbo & Winterthur Gas & Diesel to Collaborate on Major EU-Funded Project
07:21a JOHNSTON PRESS : Adds Brighton & Hove Independent to Portfolio
07:21a WAL MART STORES : Spotsy woman files suit after 2013 arrest at Walmart pharmacy
07:20a HAYS : Holidays are valued most by Birmingham's workers
07:20a MAJOR CINEPLEX PUBLIC : Report on the results of the sale of securities (F53-5)
07:20a ADARO ENERGY TBK PT : War on coal yields predictable results
07:20a ADARO ENERGY TBK PT : Biggest Coal Shipper’s Power Plan Offers Relief From Bear Market
07:20a LUBELSKI WEGIEL BOGDANKA : Answers to questions put by shareholder at the Annual General Shareholder Meeting on 18 June 2018, provided pursuant to Article 428.5 of the Commercial Companies Code
Latest news
Hot News 
INTERCEDE : Quarterly Revenue Doubles On Year Before, Outlook Positive
BILLINGTON : Set To Beat Market View After Strong First Half Trading
EUROPA OIL & GAS () : Placing and Open Offer
ZAZA ENERGY : Reports Mid-Year 2015 Reserves and Operational Update
SEEING MACHINES : Shares Up On Further Caterpillar Order
Most Read News
06:16a Rolls-Royce cuts profit forecasts as new CEO takes helm
07/05DJBeijing's Effort to Halt Market Decline Yields Mixed Results
07/05 LIPPO MALLS INDONESIA RETAIL : Drawdown Of The Term Loan Facility And Use Of Proceeds
07/05 BIOTRON : 6 Jul 2015Independent Review of BIT225 Trial Data Supports Development in Combination with New HCV Drugs
12:36aDJOil Sinks on Greek Vote, Focus on Iranian Nuclear Deal
Most recommended articles
07:19a German line hardens after Greek referendum 'No'
07:18a German line hardens after Greek referendum 'No'
07:17a Dijsselbloem - Keeping Greece in euro zone still the objective