Local developer Emaar Properties has awarded Lebanons Arabian Construction Company (ACC) the estimated AED1.8bn ($490m) contract to build The Address Residence Sky View towers at the Downtown Dubai development.
The twin-tower complex will house a hotel, 532 residential units and service apartments. Each building will be more than 230 metres tall and will link directly to the Dubai Metro and Dubai Mall.
Canadas Brookfield Multiplex is the contractor for the raft foundation package. The local NSCC is the contractor for the piling package.
The deal is the second major construction contract awarded to ACC by Emaar this year. In March, it was selected for the estimated AED3bn contract to build the Address Residence Fountain Views development. The main construction package involves building three towers including a 220-metre-tall, 60-storey building.
The project is one of the largest building schemes in Dubai and the contract will be one of the largest real estate construction deals awarded in the emirate since 2008.
|Selected Emaar awards|
|The Address Residence Sky View towers||Arabian Construction Company (ACC)|
|The Address Residence Fountain Views||ACC|
|Dubai Mall expansion||Dutco Balfour Beatty|
|The Address BVLD||Brookfield Multiplex|
|CCC=Consolidated Contractors Company. Source: MEED|
Emaar has been actively awarding construction contracts since late 2012 in the Downtown Dubai district as it spearheads the recovery in Dubais real estate sector. Most recently, in June it selected Athens-based Consolidated Contractors Company (CCC) for the contract to build the Burj Vista towers in its Downtown Dubai district.
The scheme involves building two residential towers. One tower will have 65 storeys. The other will have 20 levels.
In April, the local/UK Dutco Balfour Beatty was selected for the estimated AED1.4bn contract to build an extension to Dubai Mall. That deal involves building a fashion avenue next to the existing mall, the lake, Burj Khalifa and the existing Address hotel, offering 75,000 square metres (sq m) of retail space and about 25,000 sq m of parking.
In November 2013, CCC was selected by Emaar for the estimated AED700m contract to build the Dubai Modern Art Museum and Opera House District. In January 2013, Emaar awarded Brookfield Multiplex the deal to build the Address The BLVD hotel and residential tower.