Work has begun to repair a 34-storey residential tower in Dubai that was partially destroyed by a fire in 2012.
Arabian Business understands that contractors quietly started work to repair the Tamweel Tower in Jumeirah Lakes Towers in early October, following a three-year wait.
The total cost of the work is understood to be $13.5 million.
Neither Orient Insurance, which is covering the cost of the repair work, nor Tamweel Tower Owners Association – which was set up to represent the developer and residents – would comment on the news, but it is understood the work is expected to complete by mid-2016, after which residents will be able to return to their homes.
A source said the contractor is “ahead of schedule at present”.
It is understood that technicalities related to building insurance matters caused substantial delays. A spokesman for Orient Insurance told Gulf News last November: “For two years, we did not know who we should deal with in order to process the claim.”
In the end, it was agreed that the claim should be made in the name of the apartment owners, rather than the developer Tamweel, but Arabian Business understands it took until September 2014 to register the names of all 163 owners.
The cost of repairing the Tamweel Tower was said to have reached $21.2 million (AED78 million). But the actual cost is $13.5 million, substantially less than what was reported at the time, a source close to the proceedings has revealed.
The fire broke out at around 2am on 18 November 2012 and was not extinguished until around 7am, according to reports at the time.
The tower was partially gutted as a result, and an estimated 160 property owners were unable to occupy or rent out their apartments.
The fire was caused by a dropped cigarette that burned through the non-fireproof cladding of the building. There were no reports of any casualties.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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