Dubai: 9 April, 2008 - Pearl Dubai FZ LLC, a consortium of investors led by
Al Fahim Group
,
today announced a contract worth AED305 million has been awarded to Al
Habtoor STFA Soil Group (HSSG), to carry out enabling works on the
Dubai Pearl project, which is taking shape within the
Dubai Technology and Media Free zone (TECOM)
, overlooking the Palm Jumeriah development.
Selected out of 15 bidders, HSSG will handle all aspects related to
site grading, mobilization shoring, earthwork, excavation, dewatering,
piling work and testing. HSSG has been mandated to complete the
enabling works by December 2008.
Abdul Majeed Al Fahim,
Chairman of Pearl Dubai FZLLC, said: "Pearl Dubai is looking forward to
a fruitful collaboration with HSSG on the ambitious venture, which is
fast achieving fruition as a landmark development within the free zone
cluster. HSSG has the necessary expertise and a successful track record
in handling prestigious projects of such magnitude.
"The
awarding of the contract takes the project to its crucial stage,
marking the onset of laying foundation works. The project will stand
testimony to our commitment to building a 'living city' with open
spaces that optimize sustainability."
To date, Al Habtoor
STFA Soil Group has executed major projects related to piled and
sheet-piled jetties, piled bridges, aqueducts, ferry terminals, soil
improvement, retaining systems, and soil investigation in 16 countries
across the world.
Ercan Karadede, Managing Director of
HSSG, said: "Adopting the highest quality standards, HSSG will ensure
the enabling works at Dubai Pearl reflect our project excellence. In
addition, we will carry out the works within the stipulated timeframe,
illustrating once again our emphasis on delivery schedules."
Highlighting the project's remarkable features, Ali BuRuhaima, Chief Officer Asset Development Zoning Authority, TECOM,
said: "Dubai Pearl is a prime location and will be one of the most
ground breaking developments in the region. While catering to corporate
entities as well as residential and hospitality sectors, it will
complement the overall offering of the TECOM clusters."
Expected to be completed by December 2010, Dubai Pearl will have a
built up area of more than 15 million square feet, combining an active
business district with a quality urban lifestyle, and offering easy
access to premium commercial and residential areas such as Dubai Media
City and Dubai Internet City, as well as the Palm Jumeirah.
The residential component of the project will include sky palaces with
private pools and gardens, sky penthouses, luxury branded apartments
and condominiums. It will also feature tower and boutique offices and
renowned hotel brands. Contributing to the growing cultural calendar
within the emirate, Dubai Pearl will boast a 2000 seat state-of-the-art
theatre, a luxury fashion precinct within a premier shopping mall, as
well as cinemas and gourmet restaurants.
The climate
conditioned pedestrian walkways, which will recreate a street café
ambience with international restaurants, boutiques and urban
landscaping, will serve as one of the most unique facets of the
development.
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