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Arabtec clinches Dh687m Onyx Towers contract |
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08.25.2009 |
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Dubai: Ishraqah for development awarded a Dh687 million contract for the construction of the Onyx Towers to Arabtec Construction LLC, a subsidiary of Arabtec Holding PJSC.
Ishraqah is a real estate development firm owned by the Saudi-based Al Zahran and Bin Mahfouz Groups.
The Onyx Towers project is a multi-purpose free-hold development located on Shaikh Zayed Road, next to Emaar Business Park.
The project will be built on a 22,000 square metre plot with a total built-up area of 202,800 square metres. It will consist of three buildings, one 16-storey tower and another 25-storey tower with amenities, office and retail space.
There will also be a 14-storey, four-star hotel with 10 suites and 200 rooms.
The project also features efficient use of space with 36 high-speed elevators and optimum parking for 1,920 cars. The three buildings will all be interconnected.
The management of the project has been assigned to Masharea, a multinational Middle East firm, while KEO International Consultants will handle the engineering and supervision side.
Abdullah Bin Mattar AlFalasi said: "The large investment allocated to this project underscores our belief that Dubai's re-emergence must be supported by developments such as The Onyx, which create the optimum environment for busy executives.
"The project's strategic location and spectacular views will appeal to the most discerning investor. With the combined expertise and international network of the two companies, working on this project has been a very satisfying experience."
Riad Kamal, chief executive of Arabtec Holding said: "We are proud to be associated with the development of the Onyx project, which reconfirms our long term belief and commitment to the UAE's construction market and specifically Dubai.
"Our record and experience in the construction of such iconic developments is unparalleled and we are honoured to be selected for the development of such prestigious project."
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Source:www.zawya.com |
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