At least four companies have submitted bids for the estimated AED 400 million ($109 million) Julfar towers project in Ras al-Khaimah. Local developer RAK Properties is the client. The bidders, all local, include Al-Hamad Contracting Company, Al-Nuaimi Contracting, Darwish Engineering and Sun Engineering.
Located opposite the Hilton hotel facing the creek, the development consists of two 40-storey towers, which will comprise 349 apartments and 468 offices. Both towers will be built over a three-level podium with retail and food outlets. The buildings will have about 1,500 car parking spaces. Al-Hamad has completed the site preparation works. The local Arenco is the consultant (MEED 24:2:06).
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