Palazzo Versace hospitality and a residential luxury project is being handed over in Dubai Creek.
Enshaa CEO Raza Jafar has announced the project’s completion at Cityscape Global property show last week. Palazzo Versace can be called one of the most long delayed property projects in Dubai. Launched before the 2008 crisis the complex’s been delayed for almost a decade, but now, according to the developer, Palazzo Versace Hotel’s construction will be finished in 90 days, and residential apartments block was being handed during two last months with an average pace of four units per week.
The neighboring 80-storey residential D1 Tower, containing 518 apartments has also been completed, the developer said. Almost all the apartments, except for about 30, had been sold before the complex opening, and just about 20 of the 169 apartments in the Palazzo Versace building had left unsold.
“The only project being delivered over there is our project, which we delivered despite all of the shortcomings the area had over the last few years, with no infrastructure, no road access, no electricity. We generated our own electricity and did whatever a developer can to ensure a good-quality delivery.”
Despite this, Mr Jafar believes the creekside location of the project “is the best area in our view” in Dubai.
“It is 10 minutes’ drive from The Dubai Mall, 10 minutes from the airport and it’s right on the creek, where the history of trading began in this whole region.” And if the master plan for this area development won’t change in future, Culture Village is about to become one of the most visited and dynamic Dubai locations.