Dubai—Emirates Airline is adding to its rapid expanding aviation empire property development after recently signing an agreement with Dubai Silicon Oasis Authority.
The Dubai-based carrier will invest in developing five residential towers within Dubai Silicon Oasis, an integrated free zone technology park. The towers, which will span over an area of 231,000 square feet, will accommodate the cabin crew, engineers and pilots.
Emirates, under the agreement, will build the tower across five assigned plots of land, adding residential capacity to the 570 Semmer Villas it already leases at DSO for airline captains since 2005. The towers will each be 25-stories high and will feature 669 three-bedroom apartments and six four-bedroom apartments, adding a total of 1 million square feet of residential space. The project will also include three levels for parking and three retail units spanning over an area of 11,737 square feet in each of the five towers.
Our partnership with Emirates goes back to the time when we first inaugurated DSO,” Dr. Mohammed Al Zarooni, vice chairman & CEO, Dubai Silicon Oasis Authority, says. “Our agreement reaffirms our solid relationship with the airline, which is set to develop five upscale residential towers at the high tech park. The partnership also confirms Emirates confidence in DSO’s reputation as an integrated community that offers services, facilities and activities to residents looking for the perfect place to live, as well as companies operating in various technology sectors.”
Construction is set to start in the third quarter of 2013 and upon completion the residences will accommodate approximately 2,000 of Emirates Cabin Crew team.
The Dubai Silicon Oasis aims to become one of the world’s leading centers of advanced electronic innovation, design and development. A full package of incentives and benefits are provided to companies that operate within the free zone. The master-planned technology park, which offers an integrated living and working community, spans over 77.5 million square feet and is divided into five main zones based on industrial, commercial, education, living and residences, and public facilities.
Ali Mubarak Al Soori, Emirates executive vice president – chairman’s office, facilities/projects management and non-aircraft purchasing and logistics, at the agreement signing ceremony held at DSOA headquarters, says: “We share a distinguished cooperation with Dubai Silicon Oasis, which is regarded a destination of choice in the Emirate for its advanced infrastructure, services and facilities to make for an elegant lifestyle. We are keen to build upon the synergy we share with DSO and continue to look at developing residential towers that provide our Cabin Crew with an ideal housing environment.”