Business | Property
Dheeraj and Robodh form property venture
Property developer Dheeraj East Coast (DEC) and Robodh Contracting have signed up a joint venture agreement for a property portfolio of over Dh4.5 billion.
- Staff Report
- Published: 00:06 July 18, 2008
Dubai: Property developer Dheeraj East Coast (DEC) and Robodh Contracting have signed up a joint venture agreement for a property portfolio of over Dh4.5 billion.
The portfolio is expected to grow as DEC announces new projects.
As per the memorandum of understanding, Robodh Contracting LLC would be the main contractors for all the DEC's existing and future Projects. In its role as the main contractor, Robodh would be in charge of construction of all the projects of DEC including appointment and coordination with various subcontractors.
Decision
Dheeraj Wadhwan, managing director of DEC, said: "Choosing the right main contractor is one of the most important decision in real estate development. The joint venture with Robodh will not only help us to standardise and adhere to highest quality benchmarks but will also ensure timely delivery. Further more, as a long term relationship, the joint venture is also envisaged to help us to cut the cost of construction. It will also allow us a better control over subcontractors."
Trust
P.H. Menon, CEO, Robodh Contracting, said: "The joint venture with DEC reflects the trust the developers place in us, as our company has attained pre-eminence in construction engineering through its core competence of competitive and timely delivery with the highest quality standards."
Currently, DEC has 20 upcoming projects in Dubai. The company's diverse portfolio of developments includes unique retail, commercial and residential projects that feature global culture, mixed-use living, combinations of modern and old world charm, and business. The projects are in various phases of development.
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