Al-Habtoor signs with Abyaar

02 July 2008

The local Al-Habtoor Engineering Enterprises has been awarded the AED740m ($201m) contract to build two residential towers in the Acacia Avenues project in Dubai.

Work on the two towers, Olgana and Hilliana, will start this month and is expected to take 25 months to complete.

Middle East Foundation has completed the pilling work for both towers.

The AED2bn ($544m) Acacia Avenues project is a gated community comprising 50 villas and six towers on a 94,000-square-metre site adjacent to Knowledge Village.

The project is scheduled for occupancy in 2010.

Al-Habtoor received a letter of intent for the contract from the client, Abyaar Real Estate Development, in February (MEED 7:2:08).

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