Deyaar Development, the real estate subsidiary of Dubai Islamic Bank (DIB), has awarded Oger Dubai, the local subsidiary of Saudi Oger, the contract to build the Churchill twin-tower development in Business Bay. Work is scheduled to be completed by late 2008 (MEED 24:3:06).

The estimated AED 685 million ($187 million) scheme calls for the construction of a common two-level podium and a three-level basement, a 57-storey residential tower and a 42-storey office tower. The entire development will have a built-up area of 235,000 square metres.

The local Dar Consult is the design consultant; Deyaar will carry out project management in-house. The project is the second being developed by the property firm after it awarded in March the local Al-Shafar General Contracting the main contract for the construction of its 41-storey Citadel office tower.