Damac Properties has awarded a contract worth about AED200 million ($54.4 million) for its Merano Tower project located in Business Bay, Dubai.
The main works contract has been awarded to Commodore Contracting Co and covers the project’s main works package, the Dubai-based developer said in a statement.
Excavation works are in progress up to raft level and the de-watering system is connected, it added.
Merano Tower is a 29-storey residential tower that, once completed in 2019, will provide views of the platinum square kilometre of the Burj area in Downtown Dubai.
The residential tower features a swimming pool, a gymnasium and ample parking.
Merano Tower also includes a basement level, ground floor and three podiums with 26 floors of residential apartments varying from studios, to one, two, and three-bedrooms, with units starting at AED575,000.
Mohammed Tahaineh, senior vice president - Commercial, Damac Properties, said: “We are pleased with the contractors we have appointed and which represent a significant portion of the construction of Merano Tower, where we continue to make steady progress. We strive to appoint leading contractors and consultants in the industry with a proven track record in terms of quality of work and efficiency on delivery times.”