The local/Australian Nasa Multiplex has received a letter of intent from the local Union Properties to carry out The Tower project in Dubai. Worth AED 144 million ($39.2 million), the contract calls for the construction of a 250-metre-high residential block, located next to the Emirates Towers development on Sheikh Zayed highway (MEED 22:9:00).
The 18-month contract was due to come into force in mid-October. It calls for the construction of a 50-storey building, of which 30 floors will house three-bedroom apartments and 16 floors will be for one-bedroom apartments. In total, there will be 180 three-bedroom apartments and 192 one-bedroom apartments. The development will also include parking for 359 cars.
The piling work is outside the contract’s scope and is nearing completion.
The building will have a built-up area of 526,000 square feet. The first residents are due to move in in May 2002. The total cost of the project is put at AED 200 million ($54.2 million).
About seven companies priced The Tower contract. The architectural consultant is Beirut-based Khatib & Alami. Union Properties is carrying out the project management (MEED 14:7:00).