- Alec awarded contract to build a school at the Akoya Development in Dubai
- Emirates Reit acquired a freehold plot worth $26.8m
The local Alec has been awarded the contract to build the New Jebel Ali School in the Akoya development in Dubai.
The estimated AED109.8m ($29.8m) contract involves building a school with a built-up area of about 20,800-square-metres. It will include a foundation, primary and secondary school, as well as a sports centre and an auditorium.
The lead consultant for the project is UKs Broadway Malyan. UK-based Shepard Gilmour is the structural engineer and Hong Kongs CSA (M&E) Gulf is the mechanical, electrical and plumbing (MEP) engineer for the scheme.
Emirates Reit acquired the freehold plot from the local Damac Crescent Properties, worth AED98.5m ($26.8m).
The trust will fund the development of the new school and has entered into a 26-year lease with Jebal Ali School for their new facility.
Emirates Reit has a property portfolio that includes another education facility, Gems World Academy, among six other properties in Dubai.