Abyaar tasks Al Habtoor with Acacia Avenues job

zoom

DONE DEAL: Al Habtoor Engineering will take on the task of building two towers in the Acacia Avenues project for Abyaar Real Estate.

Abyaar Real Estate Development has signed a Letter of Intent (LOI) with Al Habtoor Engineering for the construction of two residential towers at the Acacia Avenues project in Dubai.

The contract for the two towers, Olgana and Hilliana, is worth more than US $190 million (AED700million). Arabtec, Multiplex and SS Lootah were also shortlisted for the job, which is expected to take 25 months to complete.

Middle East Foundation was awarded the $6.8 million piling contract for the project last October.

Piling work is expected to be completed in June, and construction will begin soon after.

Olgana, which will be made up of 137 apartments and 50 villas, will be constructed as part of the first phase of the project.

Hilliana will be built during the second phase and will consist of 137 serviced appartments.

The 94,000m2 development will be built next to Knowledge Village, and will have access to the Dubai Metro when it is completed.

The total value of the project is $544 million.

"This is our first project with Al Habtoor Engineering and it is part of our commitment to our investors to deliver high-quality products," said Dr Abdul Elbilly, CEO, Abyaar.

The Hilliana and Olgana projects are currently our most luxurious products and we hope that our alliance with Al Habtoor Engineering will be on the long-term."

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM