Dubai’s second tallest building, Marina 101 about to complete

The Real Estate Regulatory Agency (RERA) at Dubai Land Department (DLD) said the second-tallest building in Dubai, located behind the Burj Khalifa, Marina 101, is "close to completion."

The Real Estate Regulatory Agency (RERA) at Dubai Land Department (DLD) said the second-tallest building in Dubai, located behind the Burj Khalifa, Marina 101, is “close to completion.”

The construction of the building started in 2007 and was planned to complete by 2014 by while it wasn’t a smooth ride for the investors, it seems to be a new hope now.


Rera stated in a statement that investors were told that construction on the project “is almost complete” and requested them to start paying to “assure timely completion”.

The chief executive of Rera, Marwan bin Ghalita, said, “Following the suspension of building operations at the project, Rera addressed investors, in co-operation with the account trustee at Bank of Baroda, based on Article No 15 of the law regarding escrow accounts for the development of real estate in Dubai which says that, ‘In the event of any emergency where the real estate development project is not finished, the escrow agent of that project must, after consultation with the department, take the needed measures to maintain the rights of depositors and assure that the real estate development project is completed within time or that depositors are repaid their payments’.”

“As a result, a new timeline was designed for the project’s completion within the specific period.”

He further added that a date had been allotted to make a list of the housing units and start issuing certificates of completion. Rera has also contacted government service entities in Dubai, like the Roads and Transport Authority, Dubai Civil Defence and Dubai Electricity and Water Authority, to prepare the site for handovers and operation.

It has demanded owners who have not paid up to 90% of their due amounts to do so and is “starting to allocate final warnings to those who are disregarding the payment plan as per the law, before beginning any other legal procedures against the unit owners who defaulted on payments”.


Please enter your comment!
Please enter your name here

Read More

Dubai Police shares new features of ‘Dubai Police App’ for ‘Safe Sailing’

Dubai Police is known for their dedication to guaranteeing the safety and security of the people across the city; recently, Dubai Police has launched advanced features in their official app to assure the safety of the citizens while sailing on the cruise.

UAE administers more than 5000 COVID shots in last 24 hours

Dubai has administered 5,584 shots of the COVID-19 vaccine in the last 24 hours. The Ministry of Health and Prevention (MoHAP) of UAE said that the total doses that have been administered so far stand at 24.6 million.

Egypt PM witnesses healthcare collaboration for medical advancements

Cairo, Egypt: Signing a memorandum of understanding to cooperate in the fields of improving the quality and efficiency of hospitals,


Abu Dhabi Police launches ‘Safe Summer’ campaign to ensure children’s pool safety

Abu Dhabi Police started a summer safety campaign to safeguard the kids and children while swimming in the swimming pool.

Mandatory booster shot guideline for Saudi Arabia citizens wishing to travel abroad

Riyadh, Saudi Arabia: Citizens who wish to travel to any other foreign country will be required to get vaccinated with the booster shot of...

UAE issues new domestic law; Know details here

The new UAE domestic worker law will result in workers also being required to present evidence of their fitness and professional competence for the job.