Omniyat plans large units, bucking industry trend

Date: 26 Jan 2017

Omniyat has revealed its latest Dubai development masterplan – and it goes against a new industry trend to build smaller apartments. The Sterling building will contain one-bedroom homes starting at 1,000 sq. ft. with two-bedrooms at 1,700 sq. ft. and three-bedrooms at 2,600 sq. ft., the Dubai-based private developer said in a press statement.

Statistics show that new apartments being built in Dubai are measuring less than 800 square feet as the construction industry reacts to less liquidity in the market. The Sterling development, a two-tower design with chrome finish, is close to the new Dubai Canal in the Burj Khalifa district and is a mix of 343 apartments.

Omniyat has appointed Sun Engineering and Contracting Company as the main contractor on the project.

“The masterplan for The Sterling shows we are still totally committed to creating truly beautiful and spacious homes in Dubai, as we are confident there is a very strong market for this,” said Omniyat managing director, Mark Phoenix.

Omniyat is now expanding further into residential and hospitality. Since launching in 2005, it has amassed a development portfolio of more than $6.2bn. The rapidly expanding property developer has ambitious plans for the next five years with an impressive portfolio of residential and hospitality developments in the pipeline in Dubai including The Opus, The Pad, One Palm and Langham Place.

“The Sterling by Omniyat is a project that will become one of the true iconic buildings in Dubai and Sun Engineering & Contracting is proud to be turning that vision into a reality,” said Omar Ataya, deputy chairman, Sun Engineering & Contracting Company.


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