A partnership of Omniyat Group and Drake and Scull International (DSI) has broken ground on a Dh2-billion ($544 million) residential development located at the trunk of The Palm Jumeirah in Dubai, UAE.

Called One at Palm Jumeirah, the 100-m-tall ultra-premium development is scheduled to be completed in 2017.

“We are absolutely thrilled to break ground on what will be one of the finest residential developments anywhere in the world. In the next three years, the Omniyat Group and DSI will work together to build this magnificent building to a standard, well beyond anything seen in high-end development,” says Mahdi Amjad, executive chairman and CEO of the Omniyat Group

“The 25-storey tower, comprising 90 spacious apartments will be the most prestigious address in Dubai. Our swimming pools, indoor and outdoor, cinema, cigar lounge, super-luxury spa and yacht club will be the most lavish of its kind.”

Poised to be one of the highest residential developments at the trunk of Palm Jumeirah, One at Palm Jumeirah will boast a 20,000-sq-ft penthouse that will provide 360-degree views of Dubai’s skyline around The Palm and marina areas.

“One at Palm Jumeirah is specially crafted for the most privileged of the privileged few, which shows the commitment reflected in our design approach. Our aim is to release a project that can smoothly speak to the world and take the buyers through a journey of urban and premium lifestyle,” says Khaldoun Al Tabari, vice-chairman and CEO of DSI.

“The selection of this development was based on the strengths of the partners and teams, vision for the property and dedication to create an outstanding residential project,” he adds.

One at Palm Jumeirah is a 50-50 joint venture between the Omniyat group and DSI and is a collaboration between Soma Architects from New York, Super Potato interior design from Japan and Vladimir Djurovic landscape architects from Lebanon.

Dubai-headquartered Omniyat is a privately held real estate group established in 2005. Creating real estate assets with a combined gross realisation of more than Dh6 billion ($1.63 billion), Omniyat undertakes investment, development and asset management across a broad spectrum of property assets.

DSI is a regional market leader delivering world-class quality projects via end-to-end solutions that provide integrated design, engineering and construction disciplines of general contracting, mechanical, electrical and plumbing (MEP), water and power, rail, water and wastewater treatment, waste to energy and oil and gas, through people, innovation, and passion.

Its main business streams include Drake and Scull Engineering, which serves as the MEP and water and power arm; Drake and Scull Construction (DSC), the general civil contracting unit; Drake and Scull Oil and Gas undertakes oil pipelines and related petrochemical projects; Drake and Scull Rail; Germany-based Passavant Energy and Environment, which focuses on water and wastewater treatment as well as waste to energy; and Drake and Scull Development, focusing on the infrastructure sector.

DSI has in the last five decades delivered more than 700 projects around the world.