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Sat 2 Jun 2007 12:00 AM

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Mazaya awards JLT deal

Kuwaiti developer, Al Mazaya Holding, has awarded a US $220 million (AED800 million) contract to General Construction Company for the construction of three buildings in Jumeirah Lake Towers.

Kuwaiti developer, Al Mazaya Holding, has awarded a US $220 million (AED800 million) contract to General Construction Company for the construction of three buildings in Jumeirah Lake Towers.

The development will be called Mazaya Business Avenue, and the three towers will consist of 44 storeys on four podiums along with four parking areas.

Speaking to Construction Week, a source close to the project said: "The contract is expected to be officially announced sometime this week and is quite a big job, amounting to $220 million."

Al Mazaya Holding Company is a Kuwaiti shareholding company working in the field of real estate development.

The company achieved profits of US $12.7 million in the first quarter of this year.

Among its other projects are Kuwait Business Town, the Al Mazaya Business Centre at Al Jumeirah Towers, Queue Point in Dubailand and the Sky Gardens at Dubai International Financial Centre.

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