The $950m construction contract is the second largest awarded in the emirate this year
The Investment Corporation of Dubai (ICD) has awarded the estimated $950m contract to build its One Zabeel towers project to local contractor Alec.
The award, which is the second largest construction deal to be awarded in Dubai this year, follows the completion of the acquisition of Alec by ICD in May.
The project, which is being built in the World Trade Centre area, has been designed as a new landmark for Dubai and involves the construction of two high-rise towers connected by a sky bridge.
A consultancy team for the project was appointed in 2014. The architect is Japans Nikken Sekkei, the structural engineer is UK-based WSP, and the project manager is UK-based Mace.
The piling contractor is the local APCC.
ICD had planned to build a tower on the site in 2008, known as One Zabeel. Construction work on the project, which includes offices, residences, retail outlets and a five-star hotel, had already started, with the local Dutch Foundations working on the enabling package. The contract was cancelled in 2009. That tower was designed by US-based Burt Hill.
The deal is the first major contract secured by Alec since ICD bought it from Abu Dhabis Al-Jaber Group for an undisclosed sum.
Alec was created from Al-Jabers joint venture South Africas LTA, which was known as Al-Jaber LTA Engineering & Contracting (Alec).
It is one of Dubais most active general contractors and has worked on many high profile projects in the UAE including the Madinat Jumeirah, Dubai Marina Mall, Dubai International Airport, Abu Dhabi International Airport, Qasra al-Sarab, and Mirdif City Centre.
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.