Dubai Holding will not sell Jumeirah Group

Sunday, December 27th, 2009

Dubai Holding, owned by the ruler of the Gulf emirate, will not sell or list its luxury hotelier Jumeirah Group to pay off debt maturing next year, Jumeirah Group’s chairman was quoted as saying on Sunday.

Al Bayan newspaper carried the remarks which Gerald Lawless made in an interview with Forbes magazine, published on Friday.

“Jumeirah and Dubai Holding are part of each other and Jumeirah is not going anywhere,” Lawless told the magazine. “Dubai Holding will be fine.”

Emaar Bawadi launches Teema

Friday, July 4th, 2008

Emaar Bawadi, the joint venture between Emaar Properties and Bawadi, a member of Tatweer, has launched Teema, the first residential community in Asmaran, the 70 million sqft master-planned project being developed within the Dh200bn hospitality project Bawadi.

Teema will have 308 town houses and will be by a retail facility and a community centre. Sales will begin from May 20, just seven months into announcing the multi-billion joint venture. The residential community will have pedestrian areas and master-planned infrastructure apart from a retail centre, mosque and school.

Within its development, Teema will have green landscape and walkways, in close access to several community amenities. Teema homes comprise a mix of duplexes and two- and three- bedroom villas. The homes have all been fitted with elegant Spanish architectural features with the apartments having a built-area in the region 1,780 to 2,800 sqft. Construction on the project will begin shortly.