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Sat 2 Aug 2008 04:00 AM

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Intermass gets US $220mn contract

Sharjah-based Intermass Engineering and Contracting Company has picked up a US $220 million (AED805 million) contract to build developer Damac Properties’ Lakeside project in International Media Production Zone (IMPZ).

Sharjah-based Intermass Engineering and Contracting Company has picked up a US $220 million (AED805 million) contract to build developer Damac Properties’ Lakeside project in International Media Production Zone (IMPZ).

Construction on the project has begun and is expected to be completed by December 2010.

This is the third contract to be awarded to Intermass by Damac in IMPZ.

The project has been designed by ARKonsult.

The project will include a complex of two 21-storey and two 22-storey towers with studios and one-bedroom apartments.

Situated on Emirates Road, IMPZ is in close proximity to the Jebel Ali Port and the Jebel Ali Airport City, a free zone incorporating an array of residential, industrial, commercial and community service projects.

"We are delighted to commence construction of yet another masterpiece for the discerning community in the Middle East and worldwide," said Peter Riddoch, CEO of Damac Properties.

The project will also offer amenities such as health clubs for men and women, steam and sauna facilities, a gymnasium, an aerobic centre, swimming pools, a children's play area, a barbecue area, a function room, a tennis court and access to golf courses.

Damac Properties, which attracted a lot of media attention earlier this year over attempts to cancel its Palm Springs project, has announced plans to deliver more than 2300 units this year, followed by an additional 7100 units in 2009 to 2010.

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