IFA Hotels & Resorts Appoints DCC as Main Contractor for Phase 1 of the Kingdom of Sheba Resort
IFA Hotels & Resorts (IFA HR) appoints Dubai Contracting Company (DCC) as the main contractor for the first phase of its Kingdom of Sheba resort. The value of the construction contract is in excess of AED 1 billion.
Phase one of the resort includes the residential component, Balqis Residence, and the Private Residence Club, Fairmont Heritage Place. Balqis Residence comprises 300 sea-view residences from villas, townhouses, apartments and penthouses; all to be managed by Fairmont Hotels & Resorts. Fairmont Heritage Place is the fractional ownership component and will offer just 46 homes, each divided into saleable fractions of 1/10th.
“We are truly delighted to have contracted DCC for the first phase of our Kingdom of Sheba resort as they have a stellar track record working on sizeable residential and commercial projects both in the UAE and abroad. We have already established a healthy working partnership with DCC on past projects in Dubai, including our Fairmont Palm Hotel & Resort on the trunk of the Palm Jumeriah and we couldn’t be more pleased to be teaming with them once again,” said Werner Burger, President and COO of IFA HR.
Abdallah Yabroudi, CEO of DCC, said: “This is a very exciting project and we look forward to collaborating on future projects with IFA Hotels & Resorts.”
Located on the crescent of Dubai’s Palm Jumeirah, the Kingdom of Sheba is modelled on classic Arabian architecture and will consist of five separate and unique elements. Managed by Fairmont Hotels & Resorts, the resort will include upon completion Balqis Residence, Fairmont Heritage Place, Fairmont Kingdom of Sheba (hotel), Kingdom of Sheba Vacation Club and a traditional Souq (retail plaza), covering 141,500 square metres of prime property on the island.
“We are pleased to have negotiated this contract with DCC; true synergy and innovation will flourish from this partnership. DCC will now begin with the raft foundations as all piling works have recently been completed,” added Richard Haddon, Vice President of Construction Dubai at IFA HR.
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