DMC Partners to Develop "The Dolphin Residence"
Dubai Maritime City (DMC) announced its partnership jointly with Sharaf Investments and Al Ali Property Investment (API) to develop “The Dolphin Residence” within the City, into a high-end Freehold mixed use development complete with offices, private residences, a four star hotel, shopping mall, mosque, parking lot and leisure facilities. The partnership deal was signed by Khamis Juma Buamim, Chairman, Dubai Maritime City; Sharafuddin Sharaf, Vice Chairman of Sharaf Investments and Mohammed Abdulrahim Al Ali, Chairman of the Board Al Ali Property Investment (API).
The project will begin immediately and the building, with an approximate allowable built up area of 1,384,496 sq. ft , will be redesigned and remodeled in a phased manner with the initial phase concentrating on the redoing of the interiors based on contemporary interior design concepts and including the latest materials. The project will be completed within three years with the exterior façade of the building to become an architectural landmark. In line with promoting the maritime culture and ethos of Dubai, which is one of the key objectives of DMC, ship owners, ship management companies, marine protection and insurance and ship operators can rent or buy office space at preferential rates. This will in turn encourage the world maritime community to take note of the innumerable advantages of being based at the Residence in close proximity to a thriving maritime hub.
His Excellency Khamis Juma Buamim, Chairman Dubai Maritime City underlined the importance of the deal and said; “This partnership will help to develop a new model of cooperation in developing the maritime sector and strengthen it in accordance to the vision of our wise leadership. The maritime industry is one of the major sectors in the emirate and this project, without a semblance of doubt will be a defining development that will add to the unmatched lifestyle within the vibrant maritime culture and environment that Dubai Maritime City nurtures. We have envisaged a superior development with superb finishes, exemplary décor and a range of amenities suited to modern living. It will add value to the industrial and business district of Dubai Maritime City, which is already seeing rapid development and progress.”