A $5.1 million contract to manage the design and construction of 'The Buildings' towers at the Dubai International Financial Center was recently awarded to the American firm, firm Hill International.
The sought-after contract was awarded by Daman Real Estate Capital Partners, a property arm of Dubai-based Daman Securities.
The Buildings, which consist of two mix-use structures, are comprised of one 64-storey residential, hotel and serviced apartment unit tower, and another 14-storey office and retail tower for commercial purposes, according to Gulf News.
The project, designed by Perkins & Will, is valued at an estimated $450-million.
"This is the second contract we have awarded for The Buildings. We have now started the prequalification process for the main contract. Tenders will be issued in August," said Munjid Al Alami, project manager of Daman.
The Swissboring company received an earlier first contract, valued at Dh49 million for the enabling work this past April. Swissboring representatives maintain that their goal for completion of its work will be in January 2007.
Meanwhile, Hill International expects its portion of the project under the new contract awarded for design and construction of 'The Buildings' to be completed by the end of 2008.
© 2006 Mena Report (www.menareport.com )