The 234 Apartment

Dubai- based property developer Invest Group Overseas (IGO) will invest Dh2 billion in new real estate projects over the next few years, its CEO said. The group on Monday launched Dh500 million freehold residential tower in Jumeirah Lake Towers , equipped with 440 units of one-, two-, and three-bedroom apartments and plans a couple of more residential projects by 2020, said Dr Anas Kozbari , CEO of IGO: "We handed over Polo Town Houses last year and now we are in the process of handing over last group of apartments from Polo Residences in Meydan. We have additional projects that will add Dh2 billion worth of our investments up to 2020. Two projects will be launched during the course of the years. They are more likely going to be residential towers ," he noted. Scheduled to complete in Q4 2020, the IGO 101 tower in JLT houses gym with showers and saunas, a health club and squash court, outdoor swimming pools , jacuzzi and sundeck with loungers overlooking the lake belo...

AT least two projects nestled in a mature residential precinct in District 9 near Somerset are being run as serviced apartments - despite not having the regulatory approval to do so - and a third one is opening. Oxley Thanksgiving Residence , a freehold condominium at 328 River Valley Road owned by Chinese temple Poh Ern Shih , and St Thomas Lodge , which also sits on freehold land at 32 St Thomas Walk , are listed for short-term stay on the website of accommodation service provider Atas Residence . The Business Times' visit to these projects confirmed that they are being run as serviced apartments. A third property, Devonshire Apartments at 17 Devonshire Road , has just undergone a major renovation, and the units there are understood to be starting a new chapter as serviced apartments this month. BT's query to the Urban Redevelopment Authority (URA) confirmed that these three properties are currently approved for residential use, but "do not have planning permission to...

The value of new construction starts in July advanced 6 % from the previous month to a seasonally adjusted annual rate of $728.1 billion, according to the most recent report from Dodge Data & Analytics.   Leading the way was a 26% jump by the nonbuilding construction sector , which reflected an improved level for public works and the start of two massive power plants in California and New York.   Residential building in July increased 8 %, as multifamily housing rebounded after three consecutive monthly declines . Running counter was a 7% slide for nonresidential building , following its 14% hike in June, as both office buildings and hotels retreated from June’s elevated activity , outweighing a sharp rise for health care facilities in July.   During the first seven months of 2017, total construction starts on an unadjusted basis were $411.9 billion, down 1% from the same period a year ago. Dampening the year-to-date performance for total construction was a steep 44% declin...

The population in Cherry Creek North is set to grow exponentially as development hits a crescendo. Can the area seamlessly transition from a retail destination to a mixed-use neighborhood? Cherry Creek has come a long way from its origins as a farming community established as the town of Harman in 1886. During the early 20th century , it was just a few houses, small farms and greenhouses on 320 acres. It was considered an economical place to live.  Fast forward to today, and the town's founder, Edwin Preston Harman , likely wouldn't recognize the area, which has evolved as Denver's premier shopping and dining district and one of the priciest neighborhoods in the region to call home. Cherry Creek is is undergoing yet another transformation with the development of new apartments, condos, office space, retail projects and a new hotel. The tony shopping district is experiencing the biggest construction boom it's seen in decades, fueled by developers wan...

The value of new construction starts in July advanced 6% from the previous month to a seasonally adjusted annual rate of $728.1 billion, it was reported by Dodge Data & Analytics. Leading the way was a 26% jump by the nonbuilding construction sector , which reflected an improved level for public works and the start of two massive power plants , located respectively in California and New York. Residential building in July increased 8 %, as multifamily housing rebounded after three consecutive monthly declines .  Running counter was a 7% slide for nonresidential building following its 14% hike in June, as both office buildings and hotels retreated from June’s elevated activity , outweighing a sharp rise for healthcare facilities in July.  During the first seven months of 2017, total construction starts on an unadjusted basis were $411.9 billion, down 1% from the same period a year ago.  Dampening the year-to-date performance for total construction was a steep 44% decline for t...

Dr Anas A Kozbari, managing partner and CEO of IGO. RELATED ARTICLES: Nakheel to award Dragon Towers contract by end of 2017 | Eshraq awards $39m contract for Abu Dhabi tower | Salini Impregilo wins $435m Meydan mall contract Dubai- based developer Invest Group Overseas (IGO) has launched the IGO 101 tower, its latest residential project in Dubai’s Jumeirah Lakes Towers (JLT). With an investment of $136m (AED500m), the 195- metre tall tower will include G+39 floors and will be located in Cluster K of JLT. The project will comprise 449, one-, two-, and three-bedroom apartments that will feature amenities including a gym, health club and squash court, outdoor swimming pools , and kids area, as well as retail, food and beverage outlets. Construction will begin in December 2017, with a scheduled completion in the fourth quarter of 2020, IGO said. Dr Anas A Kozbari, managing partner and CEO of IGO, said that the company plans to fill a gap in the ...

616 Lofts at 820 Monroe Ave. NW in Grand Rapids. (Photo: Facebook.com/616Lofts) GRAND RAPIDS, MICH. - Despite a relative lull in multifamily residential housing construction at the beginning of 2017, indications point to another surge. Currently in the city of Grand Rapids, there are 19 projects under construction and more than 2,000 apartment units, most of which fall into the market-rate category. Meanwhile, there are 15 proposed or approved projects in the city with nearly 15,000 units, many of which qualify as affordable housing developments . Several projects seemed to stall earlier this year, and at least one project, the Warner Building, switched from a residential component to hotel prior to its groundbreaking in June. A major signal residential might still have forward momentum is the groundbreaking of 601 Bond by the New York- based development group Time Equities Inc. The 16-story, 140-unit mixed-use building in the North Monroe neighborhood had gone dark for months be...

Pilot Will Create 1,000 Affordable Units Over Three Years on the Near North and West Sides CHICAGO–(ENEWSPF)–August 25, 2017. Mayor Rahm Emanuel today joined Alderman Walter Burnett and Alderman Joe Moreno to announce a pilot initiative to enhance affordability requirements for large residential development projects in gentrifying areas on the Near North and Near West sides, and along Milwaukee Avenue . Over three years, the initiative is expected to create up to 1,000 affordable units in areas that need them. “Access to affordable housing is critical to Chicago’s legacy as one of the world’s most livable big cities , especially as the real estate market undergoes unprecedented neighborhood development ,” Mayor Emanuel said. “This initiative will create more affordable units in targeted areas while helping the city to assess the most effective ways of meeting neighborhood affordable housing goals .” To be introduced to City Council on Sept. 6, the proposed improvements would be...