Enabling works contract awarded for DAMAC Properties’ Marina Bay development
AED7.5m contract awarded with contractor shortly due on site
Luxury lifestyle provider DAMAC Properties Dubai has announced that it has awarded the enabling works contracts for its Marina Bay development at Al Reem Island in Abu Dhabi.
The AED7.5million contract has been awarded to National Dewatering and Drainage services (an offshoot of ‘National Piling’) and work is due to commence on site shortly.
The enabling works are scheduled to last for around four months and will include dewatering, shoring, excavation, piling and pile testing on site.
Marina Bay is a mixed use development which will feature a 25 storey tower of one, two and three bedroom apartments. In addition there will be retail and commercial space with shops and restaurant outlets along the ground and mezzanine levels. Marina Bay’s prime location within the Al Reem master development means that residents will have views across the canals that run through the entire development and also out across the Marina itself.
The Marina Bay tower won two awards at the prestigious 2008 CNBC awards – one for the Best High-rise Architecture and a second for Best Marina Development.
Commenting on the awarding of the enabling works contract, Chairman of DAMAC Holdings Hussain Sajwani said: ‘We are delighted to see that work on site at our Marina Bay development will commence very soon and that we can begin the process of building this truly stunning tower at such a fantastic location.
‘National Piling, who have a solid reputation in the market place for completing enabling works in an efficient and effective manner is a good partnership for us to kick start this important project for DAMAC Properties in Abu Dhabi.’
Marina Bay is scheduled for completion in the summer of 2012 and it is expected that main works will commence on site by the end of this year.
CEO of DAMAC Properties, Peter Riddoch commented: ’Abu Dhabi is a very significant marketplace for DAMAC Properties and we know that the location of our Marina Bay tower will be hugely attractive to customers.
“Part of our success in Dubai has undoubtedly been the ability to identify prime locations and then deliver stylish and iconic buildings. In these turbulent times location is proving an ever increasing factor in the decision making process for customers and we believe that adopting this simple but effective principle across all of our GCC locations will stand us in good stead as the market recovers.’
In Dubai DAMAC Properties has already delivered more than 3,000 units into the market place and has committed to deliver a further 7,100 by the end of 2010. A total of 25 towers will have been completed by the company by the end of 2011.
Marina Bay is one of two projects that DAMAC Properties has underway in Abu Dhabi with the second one being Oceanscape in the highly sought after Shams area of the capital. Enabling works have already been completed for this project and recently retail units at the development were released for sale.
Mr Riddoch concluded: ‘We have made a clear commitment to progress and construction during 2009 and the enabling works starting at Marina Bay is just a typical example of how we are demonstrating this commitment. We look forward to the successful completion of this important foundation work within the next few months.’
