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Fri 6 Nov 2015 01:25 AM

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Dubai's DWTC awards $196m deal for phase 2 of expansion

Dubai World Trade Centre hires Al Futtaim Carillion to build second phase of Dubai Trade Centre District

Dubai's DWTC awards $196m deal for phase 2 of expansion

Dubai World Trade Centre said on Thursday it has awarded Al Futtaim Carillion the main construction contract to deliver the phase 2 construction work on its Dubai Trade Centre District (DTCD) project.

The integrated mixed use development comprises 535,000 square metres of gross floor area located between the current Dubai International Convention and Exhibition Centre and Jumeriah Emirates Towers in the heart of the city's Central Business District.

This second phase comprises two Grade A office properties of 8 and 12 storeys, a statement said.

It added that the contract, worth AED721 million ($196.3 million), has begun and is scheduled for completion in the third quarter of 2017.

Al Futtaim Carillion is currently nearing completion of the first phase of the DTCD development, which comprises an 8 storey office building and a 588 room business hotel operated by the Accor Group under the Ibis flag.

This latest award takes the overall value of Al Futtaim Carillion's work at the DTCD development to around AED1.2 billion.

"The addition of international standard Grade A office properties in the heart of Dubai's highly sought after business and commercial corridor, allows us to provide well appointed, high quality, flexible spaces, delivering a market driven commercial offering in Dubai's central business district," said Gurjit Singh, senior vice president - real estate, Dubai World Trade Centre.

"Coupled with the location's newly established Free Zone status under the Dubai World Trade Centre Authority, we are well placed to deliver a business-conducive and professionally managed destination that serves as a strong incentive for global, regional and local multinationals to headquarter their regional bases in Dubai."

The three new office properties being developed will provide a net leasable area of approximately 84,000 sq m, together with approximately 6,400 sq m of net leasable multi format retail space, served by 2,150 parking bays in a 4 level basement.

Carillion chief executive, Richard Howson, added: "We are delighted to have been selected for the second phase of this major development in Dubai, where we continue to see more opportunities coming to market for which our capabilities and reputation for delivering to high standards of quality, safety and reliability are important to customers.

"We look forward to continuing our close relationship with Dubai World Trade Centre to deliver this important development."

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