Al-Habtoor confirms JBR sector award

21 May 2004
The local Al-Habtoor Engineering Enterpriseshas confirmed the award of the fourth and biggest sector contract on the estimated AED 5,200 million ($1,417 million) Jumeirah Beach Residence (JBR) project. Valued at about AED 1,000 million ($272 million), the sector 4 contract involves the construction of eight residential towers, with the highest rising to 54 stories. Dubai Islamic Bankis extending a bank credit facility for the contract.

Al-Habtoor is the latest firm to be awarded a sector contract on the JBR project. Others include the local Arab Technical Construction Company (Arabtec), which has been awarded a two-year contract worth AED 1,650 million ($450 million) to build 13 towers in sectors 1 and 3; and Al-Shafar General Transport & Contracting Company, also local, which has been awarded the sector 6 contract (MEED 16:4:04).

Other contracts, including sector 5, are pending on the development, which involves the construction of 35 towers offering 3,000 apartments, extensive retail space and recreational facilities. The JBR project is due for completion in 2006.

The project manager is the UK's Mace International. Dubai Technology, e-commerce & Media Free Zone Authority (Tecom) is the client.

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