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Mon 19 May 2014 01:26 PM

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Select picks builder for new $136m Dubai Marina tower

Developer inks agreement with Transemirates Contracting for No. 9 residential tower, its ninth development in Marina area

Select picks builder for new $136m Dubai Marina tower
(Photo for illustrative purposes only)

Select Group said on Monday it has hired the main contractor for its AED500m ($136m) for its No. 9 tower development in Dubai Marina.

Select, the largest private developer in Dubai Marina, said it has signed an agreement with Transemirates Contracting (TEC) as the official construction partner of their ninth residential tower in the Marina area.

The company also announced that agreements have been made with both National Engineering Bureau (NEB) and Draw Link Group for architectural and interior design services on the project.

Sales for No.9 were opened in January, and sold out within a few weeks of launch. The project includes more than 200 one, two and three-bedroom apartments as well as several penthouses.

Select Group's CEO, Rahail Aslam said: "The successful sales of our No.9 development demonstrate that the Dubai property market is continuing its strong growth levels.

"Trusted developers delivering well designed properties in prime areas are in strong demand, particularly in the Dubai Marina since there is a constrained supply of new properties.

TEC general manager Helmi Aladham said: "After much exhaustive negotiation it's a pleasure to be selected as the main contractor and we look forward to delivering a great project within all agreed timelines."

NEB Executive Director Jamil Jadallah added: "It's been an interesting ten years in Dubai, however it's good to back in a more buoyant market and assisting such a respected developer as the Select Group to deliver their projects."

Select Group said it has already delivered nearly 3,000 units with a further 2,000 units to be delivered in the next 12 months.

Following the announcement of their flagship development, The Residences at Dubai Marina Gate in March, two other projects - West Avenue and Select's five star 320 room Intercontinental Hotel Dubai Marina - are set for handover in Q2 and Q4 respectively.

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Vijay 5 years ago

Select group as a respected developer! Just speak with owners of The Point, The Torch and Bay Central some of the towers developed and handed over by the respected developer.