Tulip puts quality above all else with Westside project

Project saw a substantial increase of about 50% on the original estimates

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By  Eudore Chand Published  June 12, 2004

Westside Dubai Marina|~|Tulip-Kitchen--1.jpg|~|A Westside kitchen|~|A 50% hike in costs between development and concept stages hasn’t been enough to deter Tulip Business Developers from pushing ahead with its Dhs80 million project at Dubai Marina. The Dubai Airport Free Zone registered company intends to charge ahead with its plans to build the upmarket multimillion dollar Westside Dubai Marina, says Masoud Sangi, company president. The project cost has spiralled due largely to increasing raw material prices and Tulip’s insistence on quality. The Westside Dubai Marina is the flagship project of the group, which is into real estate development in Europe and Canada. “It is a multimillion dollar project to rise up in the heart of Jumeirah,” comments Sangi. John R. Harris & Partners is the design consultant for the project. “The project was conceptualised two years ago, and [there is] a substantial increase of about 50% on the original estimates. This has been due to a number of reasons,” says Robert Punchard, managing director of John R. Harris. “One reason [is that] the cost of materials is very high. However, there was also the demand [from the client] not to sacrifice quality. We were told to go to high end of the market. We had not budgeted for it at the beginning. This was a development that was added later on,” explains Punchard. Tulip and John R. Harris & Partners have had a number of discussions covering the design policy. “They were pushing more for quality than perhaps we were suggesting for a commercial project,” adds Punchard. The overriding insistance on quality is due largely to Sangi’s determination to create a concept of individualistic residential living that delivers to highly discriminating buyers, the luxury of personalised style with high quality standards. To drive home his point, Sangi himself intends to live at the Westside Dubai Marina. Construction is due to start shortly. It will take approximately 13 months to complete the project. The property is scheduled to welcome residents in the summer of 2005. Currently, Tulip is attempting to secure the final round of funding for its luxury development project. “Ours is a family business,” says Sangi. “We will put our own money into the project. We will also look at banks and credit institutions that we work with. The financing should be soon tied up. Mostly, the project will be built from the funds that the people who buy [space] will provide. We have bought the land, which is fully paid for,” he adds.||**||55 Homes|~|Tulip-Building-Day-Shot.jpg|~|What it wil look like|~|The development is located on an approximately 3082 m² plot of land in District 5 of the Dubai Marina complex. The total built-up area is to be about 12 000 m². “We are focusing on the very high end luxury living segment, and that is why we have only 55 homes in the building,” says Sangi. Unlike other skyscrapers in the area, Westside Dubai Marina will be of a smaller design with a ground floor and just a seven storey elevation. However, the stature of the building won’t detract from the quality or luxuriousness of the building. “There is no other project like this in Dubai Marina. It is small, but exclusive. We have not sacrificed the integrity of the building for a few dirhams. The developer himself is going to live there and he expects the building and its fittings to live up to his expectations. He [wants] it to live up to the standards that he demands,” says Punchard. Transemirates Contracting has been signed up to complete the building. The project has been given to Landmark Properties to market. “We received offers for time share options, which we rejected because we wanted the residence to be exclusive,” said Rob Lovett, managing director of Landmark. According to Lovett, the building will be located on top of a small hill with two podium levels above the boardwalk. This will allow views over the marina. The apartment building will consist of 17 apartment layouts; six garden-style apartments, one- to three-bedroom duplexes and one- to four-bedroom apartments. The rooms will be spacious with spectacular views. The high end project will also include a gym, Jacuzzi and temperature-controlled swimming pool, separate male and female sauna and steam rooms, as well as private parking spaces and free storage for buyers. The prices of apartments vary from Dhs547 000 for a one-bedroom unit to Dhs3 million for a penthouse, depending on the size and floor location, says Lovett. The sales agent claims to have already sold two apartments.||**||Reasonable price|~||~||~|“The price per square feet is very reasonable. A one-bedroom unit is some 95.6 m² and a three-bedroom unit spans some 300 m². The maintenance fee is of Dhs5/ft2/year,” explains Lovett. Different payment options will be available for the buyers that start with a 10% down payment. In keeping with the top-market theme, no expense is being spared in either the design or finishing the apartment building. For instance, Westside Dubai Marina will use Philippe Starck-designed sanitary ware and fittings, as well as Duravit and Hansgrohe of Germany fixtures for the bathrooms. Del Tongo of Italy has designed the kitchen cabinets and wardrobe units. Bosch’s latest technology is being used for kitchen appliances and amenities. “We are proud to introduce a high end residential building, which is not only equipped with the state-of-the-art amenities, but also affords buyers the chance to customise their interiors based on their personal choice and taste,” says Sangi. “As an [value-added] service, we will offer interior design services to buyers. An in-house [expert] interior designer will be assisting clients on a request basis. Our aim is to deliver best quality and design with great attention to detail. International brands in bathroom and kitchen amenities and appliances were carefully selected to complement the distinct class and style Tulip Business Developers is known for abroad,” explained Sangi. Commenting on his choice to erect his flagship project in the UAE, Sangi said: “For all of us, the most important thing is the very attractive business environment that we have in Dubai. We consider it a hub. It is balanced, the government is stable and the leaders have a very big vision. I have been living here for four years and I feel it has a very promising future. Sangi has been put off by the cutthroat nature of the local property market. “Although there are many new real estate developments in Dubai, very few offer the space and level of quality that truly discerning people are looking for. It was this unfulfilled niche that inspired us to create Westside Dubai Marina,” adds Sangi. ||**||

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