As one of the last undeveloped plots of land in Dubai Marina, Select Group’s luxury project, Marina Gate, was always likely to attract a certain type of buyer.
Certainly, if the development – more than 1,000 luxury flats split into three towers – turns out anything like its recently opened show apartment, this is luxury on a grand scale.
The mock-up boasts floor to ceiling windows throughout, high ceilings, and the interiors to be expected from such a prime spot.
The master bathroom boasts his and hers sinks and a free-standing bath tub – from which you can presumably gaze smugly at spectacular views of the Marina skyline.
“This is something that has been designed from the inside out. It won’t win architectural awards but it has been designed to live in,” says Mustafa Pooya, Select Group’s chief commercial officer.
There is, however, the small matter of price to consider. With one-bedroom flats marketed at between Dh1.3 million and Dh2.2m, all the way up to a full floor penthouse costing a staggering Dh30m, Marina Gate is clearly trading on its central location within Dubai Marina.
“These are reasonable prices,” Mr Pooya says. “For the penthouse, it’s 11,800 square feet – bigger than most villas. Typically a four or five-bedroom villa is 5,000-7,000 sq ft.”
However, anyone parting with their hard-earned cash to move into tower one should be aware the complex will remain a building site for the first year or two.
Select Group is building the towers one after the other, so while the 51-storey tower one is due to complete by the end of 2017, the 64-storey tower two will not be finished until nearly a year later – and the third a year after that.
“Altogether you’re looking at in the ballpark of 1,400 units. It’s a big development which is why we decided on a staged delivery,” Mr Pooya says.
“There will be a gap of six to nine months before handing over the two towers, one and two, but by then the infrastructure will be all up, the cladding will be there and then the last bit of work taking place will be the interiors. So, yes, there will be activity taking place but nothing that will destroy anybody’s sleep.”
Don’t say we didn’t warn you.
Q&A
How big will it be when finished?
In total the three towers will have a built-up area of close to 4 million square feet, which will also include about 150,000 sq ft of shops on the ground floor podium.
Will the towers be linked?
Yes, eventually. The towers are to be linked at the podium level, sharing both retail and leisure facilities which will include swimming pools and tennis and squash courts. There is more to come in tower three, which is still being designed.
How much will it cost in total?
Select says it expects the whole project to have an end value of close to Dh4 billion.
How much of it is currently built?
Select has completed the shoring and the piling for the first tower and the main contractor, Al Jaber LEGT Engineering and Contracting, is on site. The company is working on shoring and piling for tower two while tower three remains an empty patch of ground currently home to the scheme’s marketing suite and the show home.
How much is sold?
Select Group started to market the 399 apartments in tower one in April 2014 and says it has “practically sold out” but is keeping back a small number to sell later. It says about two-thirds of the 517 flats in tower two have been sold and there are plans for a sales launch for tower three in September.
lbarnard@thenational.ae
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