Investing in Dubai:Swarovski will 'crystallise' the common areas of Dubai's newest tallest-in-the-world condo, where prices start at over €2m. Fiona Tyrrellreports.
In a city where everything is a superlative and competition to outdo that last 'wow' development is fierce, the developer behind the recently-unveiled Pentominium in Dubai marina has gone to great lengths to impress.
Billed as "the defined height of luxury", the scheme combines the virtues of condominium living with the luxury of penthouse ownership, according to its developers Trident International.
In plain English this means living in a skyscraper where individual apartments of 604sq m (6,500sq ft) occupy an entire floor.
Some floors will be cleverly suspended to create the illusion of a floating penthouse.
On top of that you have the kudos of living in the tallest residential tower in the world. Smashing the ambitions of the developers of the Q1 Tower in Queensland, Australia which is supposed to reach a height of 346m when it is completed in 2009, the Pentominium will stand at 516m tall, when complete.
Developers Trident International claim that the Pentominium's 120 floors will "overshadow every other residential development in the world".
And the cherry on top is that the developers have formed partnerships with luxury brand names such as Swarovski, Tiffany & Co, Six Senses, Bang & Olufsen, Davidoff and Azimut Yachts to deck out the development.
Residents will have part-ownership of a fleet of cars including a Rolls Royce Phantom and 24-hour concierge services will be provided by Quintessentially, the private members' club.
All communal areas will be "crystallised" by Swarovski and the business lounge will be kitted out by Tiffany. The in-house spa will be run by Six Sense. In addition, residents will be able to kill time in cigar lounges in the sky pool, male and female health clubs or the private theatre.
Prices at the Pentominium are as exclusive as its brand partners with prices starting at £1.5 million and going up to £5 million (€2.2 million-€7.4 million).
The tower is due to be completed in 2011. Trident International has had a presence in Dubai since 2002 and specialises in luxury boutique residential developments. Previous developments include The Waterfront and and Bayside, also built in Dubai Marina.
Billed as the Middle East's sun, sand and shopping destination, Dubai has generated much interest since the ban on foreigners buying real estate was lifted in 2001.
The tiny emirate has since carved out an international reputation for over-the-top luxury and outlandish headline-grabbing developments. The sail-shaped Burg al Arab, the world's only seven-star hotel, and Palm Jumeirah, a luxury residential development on a palm-shaped man-made island, set the tone early on.
Attracted by the bling factor and the tax-free status, investors have been keen to get a piece of the action. As a result, Dubai is now the fastest-growing city in the world - it is reputed to be the home of 30 per cent of all the tall cranes in the world.
Such rapid development comes at a price and currently the 4kms long marina area, which will eventually be home to some 250 towers, is for the most part a massive dusty building site.
Away from the marina area, other super-ambitious projects are being planned, including Health City, Knowledge Village and Dubai Land theme park.
Behind this spectacular growth is the figure of Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum who wants to attract international corporations to set up headquarters in the emirate and make it the choice holiday destination for the 1.5 billion people living within three hours flight.
Mind you, not all, of course, will be able to afford the flight over let alone Dubai's prices.
Trident International Holdings 00 971 48830555 www.tihglobal.com
