Arabtec awarded AED687m Onyx Towers contract

by Martin Morris Monday, 24 August 2009

Ishraqah for Development, the Dubai-based property developer, confirmed on Monday it has awarded an AED687 million contract to Arabtec Construction for the Onyx Towers project in Dubai, news agency WAM reported.

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Onyx Towers is a multi-purpose freehold development located on Sheikh Zayed Road, next to Emaar Business Park.
The project, which will be built on a 22,000 sq m plot of land with a total built-up area of 202,800 sq m, includes a 16-storey and 25-storey tower with amenities, office and retail space, as well as a 14-storey, 4-star hotel, with 10 suites and 200 rooms.

The three buildings will be linked via an interconnected podium area.

Commenting on the launch of the project, Abdullah Bin Mattar AlFalasi, CEO of Ishraqah said: ''The large investment allocated to this project underscores our belief that Dubai’s re-emergence must be supported by developments such as The Onyx, which create the optimum environment for busy executives.''
 
Riad Kamal, CEO of Arabtec Holding added: "We are proud to be associated with the development of the Onyx project, which reconfirms our long term belief and commitment to the United Arab Emirates construction market and specifically Dubai.''

Enabling works are nearing completion with construction scheduled to start in September.



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