Dubai-based hotel operator Jumeirah Group has invited contractors to bid by 5 December for the deal to build the fourth phase of its Madinat Jumeirah development in the emirate.
The prospective bidders are:
- Alec (local)
- Al-Futtaim Carillion (local/UK)
- Brookfield Multiplex (Canada)
- Dubai Contracting Company (DCC) (local)
- Dutco Balfour Beatty (local/UK)
- Khansaheb Civil Engineering (local)
The site is located between the existing Madinat development and Wild Wadi waterpark, close to the Burj al-Arab hotel.
The construction work involves building a 435-room resort hotel with 400 parking bays, three speciality restaurants, lounges, bars, a business centre, swimming pools and a turtle lagoon. There will also be a laundry, plant rooms, chillers and cooling towers to support the hotel.
The client representative is the local H&H. The development manager is South Africas Mirage Mille.
The earlier phases of the Madinat development, which include two hotels, a souk and a convention centre, were completed in 2004. The contracting teams that worked on the scheme were a local/South African joint venture of Al-Habtoor Engineering Enterprises (now the local/Australian Habtoor Leighton Group) and Murray & Roberts, and a joint venture of the local Bu Haleeba Contractors and South Africas Grinaker-LTA (now the local Alec).
In late October, Jumeirah Group signed a $1.4bn loan. The company appointed the UKs Standard Chartered and HSBC, and the local Abu Dhabi Commercial Bank (ADCB) to arrange the deal in May, but received only limited interest from other banks about joining the funding group. Only three new lenders joined the transaction: Dubai-based Emirates NBD, Mashreq and Dubai Islamic Bank.
Jumeirah Group said in a statement that the loan would be used to fund its own expansion and also for the general corporate purposes, at the parent level, for Dubai Holding Commercial Operations Group.