The total value of the project is just over Dhs2.4bn and will include all associated structural, civil, electromechanical works, external works and commissioning. It is expected to be completed by the end of 2013.
The project comprises of 3 basement levels and 68 storey residential towers with a total area of 273,000 square meters or over 3 million square feet.
Arabtec is currently working with Emirates Sunland (a joint venture between Emirates International Holdings and Sunland) on two major projects in Culture Village. These include the D1 Tower, an 80 storey luxury residential building and Palazzo Versace Dubai, a luxury 215 room hotel, and 169 condominiums.
Madinat Al Arab is the first phase of construction in Waterfront by Master Developer, Nakheel. The premier beachfront precinct will transform 1.4 billion square feet into an international community incorporating mixed use development with residential, hotel, commercial and retail.
Waterfront is also developed on the last 15km of natural coastline in Dubai and will provide more than 70km of coastline in total, including the development of 23% of the Arabian Canal. Waterfront is located in close proximity to the new Jebel Ali Airport making the new precinct fully accessible on a local and international scale.
The Atrium will be launched by Sunland at this year's Cityscape.
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Sunland issues Dhs2.4bn LOI to Arabtec for new Dubai Waterfront project - Atrium
- United Arab Emirates: Sunday, September 28 - 2008 at 12:57
- PRESS RELEASE
The Sunland Group (Dubai) has issued a Letter Of Intent (LOI) to Arabtec Construction LLC, a subsidiary of Arabtec Holding PJSC, for the construction of its latest project The Atrium at Waterfront, which is in the new Madinat Al Arab precinct of Nakheel's Dubai Waterfront development at Jebel Ali.
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About Arabtec:Arabtec Holding PJSC, formerly known as Arab Technical Construction Company PJSC, is a Public Joint Stock Limited Liability Company formed in 2004 to invest in the contracting sector through establishing, acquiring and owning shares in construction related companies in the UAE and abroad. Arabtec Construction LLC, Austrian Arabian Ready Mix Concrete Co. LLC and Arabtec Pre-cast LLC are wholly owned subsidiaries of Arabtec. Arabtec Construction Company LLC, the company behind the world renowned and iconic Burj Dubai are widely recognised as one of the top construction companies in the UAE. Arabtec Holdings was formed to invest in the construction sector with a view to benefit from the unprecedented construction boom that is expected to continue over the next few years.
The company relies on a highly motivated management team with vast experience in the contracting sector. Mr Riad Kamal, a founding shareholder, has overseen the development of several construction projects in Dubai and Abu Dhabi since 1975, many of which are considered landmarks in the UAE and soon to be recognised worldwide. Some of these buildings and landmarks include the Jumeirah Beach Residences, Al Mazaya Sky Gardens, Emirates Hills Developments as well as DIFC Gate Village.
For more information, please contact:
Maram Alkadhi
SAHARA Communications
P.O. Box 73310 Dubai, UAE
Tel: +971 4 3298996
Fax: +971 4 3298995
Posted by Siba Sami AmmariSunday, September 28 - 2008 at 12:57 UAE local time (GMT+4)
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