Gulf News

Revived Dubai Marina tower eyes world record

FORMERLY CALLED PENTOMINIU­M, PROJECT WANTS TO BE WORLD’S TALLEST RESIDENTIA­L TOWER

Offplan sales have started at a 500 metre plus skyscraper in Dubai — one that aims to be the world’s tallest standalone residentia­l tower. In many ways, this is a relaunch for the project, located in Dubai Marina’s ‘tallest block’ cluster.

It is now called the ‘Six Senses Residences Dubai Marina’, featuring 122 floors and 251 residences. Prices start at an eye-watering Dh5.8 million for a 2-bedroom unit. (That, according to property market sources, would translate into around the Dh3,500 on a per square foot basis.)

The project was called the ‘Pentominiu­m’ at the time of its original launch in 2007, and had most of its super-luxury units sold out within days at the time. It was conceived as an all-penthouse tower by its developer at the time, the Trident group. Constructi­on was launched with much fanfare before grinding to a halt as the developer made a quick exit.

A new lease of life

Last December, the Pentominiu­m site was bought by the Select Group via an auction for $100 million, part of a process that saw long-stalled projects being revived at a time when Dubai’s property market was passing through another burst of sustained growth.

“The Pentominiu­m site was one of the most coveted, and multiple investors had considered acquiring it at various stages in recent years,” said an industry source. “When it was placed on auction, there was another flurry of heightened interest. The $100 million tag represents a good deal for Select.” The Dubai Marina ‘tallest block’ also features the likes of 23 Marina, the Ocean Heights, and the Marina 101.

Riding the property boom

Now, carrying the Six Senses branding, the project will ride the continuing Dubai property boom. Offplan sales had another exceptiona­lly strong run over the first three months of 2024. Within this, branded luxury residences have been particular­ly coveted by buyers, with just about all the major brands now having attached their names to projects in Dubai.

Select Group already operates multiple high-rises in Dubai Marina, having been among the first set of private developers to pitch signature projects in the location.

In recent months, other flagship developmen­ts from the past have also been instant hits, the most notable being, of course, the Palm Jebel Ali. The master plan had been reworked extensivel­y, and initial releases of villas and mansions found buyers immediatel­y.

Now, attention will hover around the site formerly occupied by the ‘Dubai Pearl’ project in the Tecom area.

The initial structures at the site have been torn down, and there is constant talk that a new project could soon start there.