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UAE's second tallest tower is 80% complete; handover in 2015

UAE's second tallest tower is 80% complete; handover in 2015
Sheffield Holdings Limited has announced that it has completed 80% of its plans to build the second tallest tower in the United Arab Emirates (UAE), reported Arabian Business, adding that the Company’s Marina 101 project, which stands at 425 metres, is to be the tallest tower in Dubai Marina and the second tallest tower in the UAE.

The handover of the hotel part of the building is expected to take place in early 2015, Sheffield Holdings said in statement, adding that the handover will begin following the approvals and the certification of its completion.

Abuali Malik Shroff, Sheffield Holdings Limited chairman, commented saying that "Investment in projects near completion has proven that a fast ROI will occur by handover. We believe that it is an opportunity for investors to seize at this stage of construction and take advantage of this market practice model."

It is worth noting that last year, Sheffield Holdings had announced that its Marina 101 project will be branded Dream Dubai Marina and will be managed in association with Wyndham Hotel Group, the world's largest hotel provider.