Preatoni enters UAE property
Market by acquiring 191-metre-tall ‘Dubai Star Tower’ at Jumeirah Lake Towers
(JLT)
Italian real estate pioneer
Ernesto Preatoni says the acquisition reflects a rebound in investor appetite
for JLT
Dubai, UAE, 14 June 2014: Preatoni, a leading
European property developer which recently launched Preatoni Real Estate
company in Dubai, has bought a 100 percent stake in Dubai Star Tower, which is
under construction at Jumeirah Lake Towers (JLT).
Ernesto Preatoni, Founder and Chairman of
Preatoni Real Estate, said: “Reflecting a rebound in investor appetite for JLT,
this strategic acquisition is extremely delighting news to purchasers of Dubai
Star Tower as the equity of their homes is automatically raised remarkably
given the fact that work was resumed instantly to complete the construction of
the project.”
Offering spectacular views of deep blue waters
and eternal sunshine, the 191-metre Dubai Star Tower will be a magnificent
place to unwind. The tower boasts a futuristic design through a fusion of architectural
elements, while commanding a distinctive style and aesthetic expression of its
own.
The tower incorporates retail and office spaces
and luxury residential units that come with contemporary furnishings, latest
amenities and a cosmopolitan look.
Stunning views, ceramic floor tiles, solid
core entry door, walk-in closets, insulated and double glazed windows, grand
lobby area and tiled balconies are some of the amenities of the new tower.
The tower also incorporates recreational
facilities such as a world-class spa and swimming pool services that are all provided
to tenants in a 5-star service hotel ambience.
Preatoni added: “Offering breathtaking views
of an expansive horizon that changes a million hues as the day goes by, every
place in Dubai Star is thoughtfully laid out to create a sense of space
and comfort.”
He added: “We anticipate huge demand for this
tower from investors from all over the world because the Preatoni name spells
financial safety, strong reputation and great credentials in Europe and in
other many places in the world.”
Preatoni added: “We have invested in this iconic
structure that is fast taking shape as a prominent landmark on the Dubai
skyline. We are proud to say that Preatoni has a reputation for long-term
investor care. We are adding value to the property, because of our financial
capability and hospitality experience.”
Work is in full swing on the tower and the contractor,
Al Rashad Contracting Company, is confident of completing the construction
before 2015 ends.
Preatoni has built high-class tourism and
residential complexes, hotels and leisure centers worth 2.5 billion Euros in
the MENA region, including the Domina Coral Bay Resort in Sharm El Sheikh Egypt.
Preatoni concluded: “We have started expanding
our portfolio of residential and commercial complexes in Dubai. This is just
the beginning of our investments in the UAE market as we are scouting other projects
for long-term investment and ownership.”
Preatoni has regional headquarters in Milano,
Italy; Tallinn, Estonia; Villnius, Lithuania; Riga, Latvia; Moscow, Russia;
Sharm El Sheikh, Egypt and Dubai, UAE.
Once completed, Dubai Star will rise to 48
floors with 600 units, divided between commercial storefronts, offices and
apartments.
