Another Diamond in the making for Dubai

Work on Diamond Investments’ fifth tower is due to begin shortly

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By  Sean Cronin Published  May 14, 2005

Piling and shoring contracts for Diamond Investments’ fifth residential tower, Marina Diamond Five at Dubai Marina, are set to go out in the two weeks, with an award expected to be announced in around another two weeks’ time. The building — like Diamond Investment’s four other towers — was designed by Al Ajami, and will offer one and two bedroom units, equipped with high quality kitchen appliances and large windows, offering views over the Marina and Jumeirah Lakes. Residents will also have a range of service facilities at their disposal, including swimming pools, sauna, steam room and 24 hour security service, as well as a double storied covered car park. Faris Saeed, general manager of Diamond Investments, said: “Our buildings are being made available to everyone, but we have had a particularly enthusiastic response from the young professional and smaller family segments of the market. This is a target audience for us, and it is reflected in the energetic buzz surrounding the Marina as well as the affordability and style of our luxury buildings.” The award for the main contract will be made in late August, in time for the successful contractor to start work on 1st September with a 22-month programme once piling and foundations works are complete. The announcement is a significant one for Diamond Investments, as it makes it the second largest property developer in the Dubai Marina, and, by extension, a key competitor in the region’s freehold property market. The company’s Marina Diamond One project is progressing at pace and is set to begin work on the 13th and 14th floors. The piling and foundation works for Marina Diamond Two are now almost complete, and work on the structure will begin in the next two weeks.

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