Emaar Properties awards $827 million contracts to local firms

Published February 4th, 2003 - 03:00 GMT

Emaar Properties has awarded several industry contracts to United Arab Emirate (UAE)-based companies for the construction of residential towers, individual villa units and peripheral infrastructure across all its major projects.

The primary and secondary contracts are valued at 3.04 billion Emirati dirhams ($827 million). The Emaar projects' development team selected these companies from the several that responded to the requests for proposals.

Some of the companies which were awarded the contracts to build high rise apartment towers and infrastructure works include Dubai Civil Engineering and Arab Technical Construction, Al-Futtaim Tarmac Private, Bin Laden and Wade Adams, Engineering Contracting, Fujairah National Construction and Ginco Contracting.

“These are substantial contracts and we expect them to be completed within tight time-frames for each of our projects,” commented Executive Projects Director, Issam Galadari. Emaar currently has eight major real estate projects under development including the Arabian Ranches, Dubai Marina, Emirates Hills, The Lakes, The Meadows, The Springs, The Greens and Emaar Towers.

Emaar Properties is a Public Joint Stock Company listed on the Dubai Financial Market. Besides real-estate projects, Emaar also owns and manages subsidiaries such as Dubai Bank, Amlak Finance, Emrill, a joint venture with the UK-based Carillion, which provides property and facilities management services, and its recently launched IT company, Sahm Technologies. — (menareport.com)