Plus Properties signs AED 400 million worth contract with CCC for construction of two world-class projects

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Exclusive waterfront properties at Madinat Al Arab – Waterfront, to feature luxury apartments located directly on the beach.

Plus Properties, a leading property developer in the Middle East, has signed an AED 400 million contract with Consolidated Contractors Company (CCC) for the construction of two prestigious waterfront projects at Madinat Al Arab - WATERFRONT, Dubai.

The agreement was signed recently by Georges Chehwane, CEO of Plus Properties, and Leon Der-Ohannesian, Area General Manager- UAE, Consolidated Contractors Company. This agreement with CCC paves the way for commencement of construction of Wave Residence 1 and Pixel Tower in Madinat Al Arab - WATERFRONT, Dubai, which is set to become the world’s largest and most luxurious waterfront development.

Commenting on the agreement, Georges Chehwane said, “We are very proud to have entered into a strategic alliance with a globally reputed firm such as CCC, who have long pioneered construction activities in the Middle East region. Entrusting the construction of Wave Residence-1 and Pixel Tower to CCC would not only raise the credibility of these projects and build greater trust with investors, but would also ensure that the projects are completed on time and to the highest construction standards.”

Leon Der-Ohannesian said, “We are pleased to add Plus Properties to our client portfolio. Plus Properties is one of the fastest growing real estate developers in the region with a variety of high-end projects to their credit, and we are delighted to have joined hands with such a prominent industry player.”

CCC is the largest engineering and construction company in the Middle East region employing 180,000 people in 40 countries. CCC provides highly-skilled project management, engineering, procurement & construction services to clients across diverse sectors.

It is committed to providing a reliable and professional service to its valuable clients, to being supportive to local businesses and communities, while ensuring that all activities undertaken are executed in an environmentally-friendly manner.

Key attributes that have contributed to the success of the company are its use of cutting-edge technology, the technical expertise of its employee-base, adaptability to local markets and its focus on quality and safety.

“Cityscape Dubai has established its place as one of the leading B2B real estate investment and development exhibitions in the world and we are delighted to announce our partnership with CCC at this premier event,” added Chehwane.

Taking its name from its unique shape, Wave Residence 1 is located on the first row directly on the beach at the Madinat AL Arab Waterfront, the largest water front in the world. The project will have exclusive garden apartments with private pools or outdoor jacuzzis. Wave Residence 1 will enjoy breathtaking views of the Arabian Sea.

Pixel Tower is conceived as a high-tech, Generation X tower for the young and trendy of Dubai, and comprises 18 floors with a variety of spacious and luxurious apartments, private villas and duplex penthouses.

Both the Pixel Tower and Wave Residence 1 are designed by world-renowned architect James Law.

Photocaption: (From left to right) Leon Der-Ohannesian, Area General Manager- UAE, Consolidated Contractors Company with Georges Chehwane, CEO of Plus Properties.

Notes and contacts

About Plus Properties

Plus Properties has quickly established itself as one of the most innovative and ambitious real estate developers in the Middle East. Based in Dubai, it develops luxury residential and commercial projects in the UAE and throughout the region.

The company was launched in July 2007 and already holds a portfolio of prestigious projects. Plus Properties currently has offices in Dubai, Abu Dhabi, Jeddah, Riyadh, Bahrain, Beirut and Moscow.

About CCC

Consolidated Contractors Company (CCC) is the largest engineering and construction company in the Middle East region employing 180,000 people in 40 countries.

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