Credit By: Khaleej Times
Dubai’s Pentominium Tower, once suspended due to the 2008 global financial downturn, is set to make a triumphant return as the world’s tallest residential high-rise skyscraper. Select Group, a prominent Dubai-based real estate developer, secured the iconic tower in a competitive auction held via the Dubai Courts approved administration process through Emirates Auction. With a successful bid of $100 million, Select Group is poised to redefine luxury living with this architectural marvel in Dubai Marina.
1. A Triumph Over Setbacks:
The Pentominium Tower, located in Dubai Marina, faced setbacks during the 2008 financial crisis, leading to its suspension. However, Select Group’s successful acquisition through a competitive bidding process marks a triumphant revival for the project. The $100-million bid underscores the significance of this iconic structure.
2. Anticipation for the World’s Tallest Residential Tower:
While specific details about the tower’s height and number of floors remain undisclosed, it is anticipated to surpass other renowned structures globally. Notable contenders in the residential skyscraper category include Central Park Tower, 111 West, Park Avenue 432, and Marina 101. The Pentominium Tower is expected to set a new standard for luxury and height, aiming to exceed Marina 101, currently the tallest tower in the UAE after Burj Khalifa.
3. Strategic Location and Development Vision:
Situated in Dubai Marina, the Pentominium Tower’s strategic location places it in proximity to iconic landmarks such as Palm Jumeirah, Emaar Beachfront, and JBR. The CEO and founder of Select Group, Rahail Aslam, expressed excitement about the opportunity to develop an ultra-high-rise residence in this prime location. The company envisions not only surpassing other residential developments in height but also contributing to Dubai’s dynamic skyline.
4. Collaborative Efforts for Architectural Excellence:
To ensure the successful completion of this architectural masterpiece, Select Group is collaborating with engineering consultancy WSP, architectural firm Woods Bagot, and interior design firm Mitchell & Eades. The vision is to create a super slender tower that occupies one of the last available plots in Dubai’s bustling Marina precinct. Mark Farley, Managing Director – Property & Buildings at WSP Middle East, emphasized the tower’s significance as a landmark, further enhancing Dubai’s skyline.
5. A New Standard for Residential Skyscrapers:
Select Group’s acquisition and ambitious development plans for the Pentominium Tower signify a commitment to setting a new standard for luxury living and residential skyscrapers globally. The project not only represents a triumph over past challenges but also reinforces Dubai’s status as a hub for groundbreaking architectural achievements.
The successful acquisition of the Pentominium Tower by Select Group heralds a new chapter for this iconic structure. As it prepares to reclaim its place in Dubai’s skyline, the world eagerly anticipates the completion of the Pentominium Tower, destined to become the world’s tallest residential high-rise skyscraper.
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