The UAE’s Piling Tech has won the enabling works contract on the US $720 million (AED2.7 billion) Ajman One project, which is the first to be developed by the emirate’s real estate development company, Aqaar.
“The project is on track, and after negotiating with several enabling contractors Piling Tech has been appointed to be responsible for all enabling work on phase one of the development,” said Rami Dabbas, head of real estate development, ADIA and chief operating officer, Aqaar.
“The work will take around 140 days, allowing 30 days for mobilisation, with completion by the end of the second quarter of 2007.”
Phase one, to be completed by 2009, will have 12 freehold residential towers forming the core of the development.
“We want to ensure that progress is maintained by implementing our construction strategy methodically, and align Aqaar with companies which are experts in the construction industry,” added Dabbas.
The entire project, to be completed by 2010, will feature a hotel, freehold commercial tower, serviced apartments and a tower for leased apartments.
“This project will be a catalyst in terms of developing the emirate,” said Dabbas.
Dabbas added that Aqaar is in talks with international firms for the main construction package, which will be awarded by the end of March.
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