Belhasa to construct Properties Investments’ Green Community in Dubai
Properties Investments, a joint venture of Dubai Investments and Union Properties, announced that Belhasa Engineering & Contracting Co. has been selected as the contractor to build 213 townhouses, family villas and luxury villas as well as three recreation centers. All facilities will be situated within the residential, retail and business community of the Green Community in the Dubai Investments Park.
The contract, which equates to over 168 million Emirati dirhams ($45.74 million) worth of building, is a key step in the progression of the Green Community, with several other contracts to be awarded in what will be a project worth in excess of Dh600 million. The villas Belhasa Engineering & Contracting Co. are to construct will have architectural design based on a Mediterranean style.
The Green Community has been developed as a result of a joint venture between Union Properties and Dubai Investments and is part of the Dubai Investments Park. Located 35 kilometers from Dubai city center, the park will be accessible by land, sea and air.
“Dubai Investments Park was conceived from Dubai Investments' idea of forming a business park to bring together multi-business organizations in a state-of-the-art, centrally managed, high tech and environment-friendly park. Green Community is a feather in Dubai Investment Park's cap and heralds the concept of safe and comfortable living,” Khalid Kalban, Chief Executive Officer of Dubai Investments, said.
It compliments the park in providing world-class residential facilities to its tenants. The Green Community is envisaged to stand true to its name in being very green with a man-made lake and each residential unit and office being surrounded by lush greens.
Further to developing the residential property within the Green Community, Belhasa Engineering & Contracting Co. will be responsible for the building of three fully functional recreation centers. Each center will provide the residential community the opportunity to utilize all recreation amenities, which include a swimming pool, fitness studio and common room.
“The first package at the Green Community will provide around 2.5 million square feet of residential, leisure, retail and commercial property including 132 townhouses, 71 family villas and 10 luxury villas. Managed by Union Properties (Edara), this project will provide a secure and completely landscaped living environment from day one,” Simon Azzam, Chief Executive Officer of Union Properties said.
Union Properties core business is Property Investment and Development, which involves investing in and developing residential, commercial, industrial and retail property. Other areas of business include property management, facilities management, interior design and fit-out, along with services provided by the company's subsidiaries and associates, namely project management by Edara, electromechanical contracting by Thermo, instant offices by Regus, furnished serviced apartments by Marriott Executive Apartments and health and fitness services by Nautilus Academy.
Dubai Investments PJSC's is a Middle East investment companies. Led by a board of United Arab Emirates (UAE) businesspeople, the company has invested in manufacturing, agriculture, food products, real estate, telecommunications and shipping. Amongst its subsidiaries are Emirates Glass, Emirates Extrusions, Globalpharma, Emirates Building Systems, Gulf Printing Press, Lite Tech Industries and Marmum Dairy Farm. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
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