A contractor selected for The One tower construction on the Palm Jumeirah

22.03.2016
Ultra-luxury apartments and penthouses to be put up for sale in US$ 544 million residential complex. Dubai developer Omniyat, which is building an exclusive tower The One on the man-made Palm Jumeirah Island, announced the appointment of a general contractor.
It will be Brookfield Multiplex Company, who will do all the work. The construction of an iconic project, which is about to reshape Dubai’s skyline, will take about two years, the developer said in a statement. The One residential complex will have 107.795 sq m of inner space, while the cost of delivering the project reaches US$ 544 million.
With this project Omniyat developer will add another gem in the Palm Jumeirah’s crown: The One will be constructed on the first land plot of the archipelago’s main island, at the entrance to the "trunk" of the palm. Real estate units in this complex, as well as most of the other properties on the man-made island, fall into the ultra-luxury category. The cost of each of the 90 apartments that will be put up for sale in the complex will amount to at least US $ 3.8 million, and an exclusive penthouse on the top floor of the building will be marketed at a price of US $ 54,47 million.
The apartments’ design in The One will be made by Japanese design studio Super Potato. Residents and guests of the complex will have access to three swimming pools, a private yacht club, a spa, a gym, a library and a private cinema.
With this construction launch Omniyat company has joined a number of other Dubai developers, who see the emirate's real estate future in high-end sector development. Another major Palm Jumeirah developer Azizi Developments has announced recently of its Royal Bay Residence Palm project 25% readiness: this exclusive property complex is being built on the "crescent" of the archipelago. Thus, in the coming years undeveloped land plots on the man-made Palm Jumeirah Island may well become rare.

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