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Select Group, A Real Estate Developer, Secured Ownership Of The Pentominium Tower Through A Successful Auction Earlier This Year.
Dubai’s Select Group, a real estate developer, has successfully acquired the Pentominium Tower, poised to become the world’s tallest residential high-rise upon completion. The project, located in Dubai Marina, faced setbacks during the 2008 global financial downturn, leading to a halt in development. Earlier this year, the tower underwent an auction administered by Dubai Courts through Emirates Auction, resulting in a competitive bidding process of 46 bids. Select Group emerged victorious with a $100 million bid.
While the exact height and number of floors of the residential tower remain undisclosed, it is set to rival other global giants such as Central Park Tower, 111 West, Park Avenue 432, and Marina 101. In the UAE, Marina 101 currently holds the title of the tallest tower after Burj Khalifa, standing at 1,394 feet or 425 meters.
Rahail Aslam, CEO and founder of Select Group expressed excitement about securing this unique opportunity to develop an ultra-high-rise residence in Dubai Marina. The company aims to set new global standards for residential skyscrapers and has enlisted the expertise of engineering consultancy WSP, architectural firm Woods Bagot, and interior design firm Mitchell & Eades for the tower’s development.
Mark Farley, managing director of Property & Buildings at WSP Middle East, highlighted the significance of this super slender tower, emphasizing its goal to surpass many of the world’s notable residential developments while occupying one of the last remaining plots in Dubai’s bustling Marina precinct.
