Project Update Sepetember 2007
We write with regard to your investment in the Oceana development at Palm Jumeirah, we would like to inform you that the project has gained momentum and several new advancements are currently underway.
At present, developers Seven Tides are working closely with designers and project consultants on new layouts for the much-awaited spa; contracts with renowned restauranteurs are being negotiated and most importantly, new branding for the entire project is being finalised – bringing greater value to your investment.
However, due to unforeseen circumstances, construction has been delayed postponing final project delivery to 3rd Quarter 2008. To overcome the initial obstacles faced, developers have now signed a fresh agreement with Dhabi Contractors, the project team currently working on the Movenpick Hotel. This instruction is extremely important to the development and will ensure delivery of your apartment together with the quality of finish that will place Oceana as one of the best developments in
Rest assured, the new project team will pull out all the stops to ensure that construction will meet the new deadlines. Your investment is secure and we will continue to be transparent and provide you with timely updates.
At Asteco, we are committed to safeguarding our investors’ interests and are pleased to report that our sales office on the crescent of Palm Jumeirah is now ready for opening and more importantly the show flat for Oceana is open for viewing. The show apartment represents the actual finishes of all apartments at Oceana and has proved to be very beneficial in giving investors a flavour of the finished development together with an invaluable sales tool for those investors wishing to sell on their apartments. We are very pleased with the show suite and cordially invite you to visit us.
As a side note for all investors at Oceana we can report that the sales of shoreline apartments on Palm Jumeirah, particularly those units with direct sea views, are extremely strong with prices per square foot achieving up to Dhs 2,300. One of the photos attached shows the view from the private beach at Oceana which is comparable, if not a better view than from the Shoreline apartments.
Thanking you.
Yours Sincerely,
Ian Hollingdale
Head of Project – The Palm