Developer draws up shortlist for tower

25 November 2009

At least three contractors are preparing bids for contract to build 78-storey building on Sheikh Zayed road

The local Tasameem Real Estate has shortlisted at least three companies for a contract to build a high-rise tower in Dubai.

The firms include the local Al-Habtoor Engineering Enterprises, Lebanon’s Arabian Construction Company (ACC), and the local Arabtec Construction.

The contractors will prepare final prices for the deal and work with the client on selecting subcontractors and suppliers.

In mid October, Tasameem invited contractors to estimate how much it would cost them to build the tower (MEED 18:10:09).

Located on Sheikh Zayed road, the 78-storey, mixed-use tower will contain offices, a five-star hotel, residential apartments and a penthouse. The planned built-up area is 44,000 square metres.

The lead consultant on the project is UK-based Atkins.

The slowdown in Dubai’s real estate sector has forced developers to put on hold many of the emirate’s high-rise projects.

So far in 2009, they have awarded just one significant contract for a tower and a handful of tenders.

In September, Hong Kong-based developer Trident International Holdings selected ACC for the estimated AED1.5bn ($408m) contract to build the 618-metre-tall Pentominium tower at Dubai Marina.

The four-year contract involves building a 120-storey residential tower, with facilities including a swimming pool, business centre, observation deck, health clubs, cigar lounge, banqueting hall and private theatre.

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