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Sat 14 Apr 2007 05:37 PM

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Oger wins DIFC towers project

Dubai-based Daman Investments has awarded a US $436 million (AED1.6 billion) contract to Saudi Oger Group's subsidiary, Oger Dubai, for the construction of its new project - The Buildings by Daman - at Dubai International Financial Centre.

Dubai-based Daman Investments has awarded a US $436 million (AED1.6 billion) contract to Saudi Oger Group's subsidiary, Oger Dubai, for the construction of its new project - The Buildings by Daman - at Dubai International Financial Centre.

Ground works began nine months ago and the project is expected to be completed in early 2009.

The 235m-high development is a 65-floor mixed use residential and commercial complex that will include freehold apartments, offices, retail space and a luxury hotel built on a 20,440m2 plot of land, which was acquired through a tender process in 2004.

"There is no delay in the project as ground works began nine months ago," said Shehab Gargash, CEO, Daman Investments.

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