Dubai: Meydan yesterday named Chinese Guangsha Middle East Construction as the contractor for its Metropolis Business Park Phase I, reconfirming its commitment to completing Meydan City.
The developer also hinted at expansion possibilities in China in the horse racecourse arena.
"We haven't scaled down anything regarding Meydan City's master plan. We will complete it in stages and are ahead of the game with infrastructure, such as roads and sub-stations. It was always announced as a five to 10 year project," said Saeed Humaid Al Tayer, chairman of the board and CEO of Meydan.
"We're only the contractor for phase one, we will start construction within one month. But maybe in the future we could enter into a joint venture to develop phase two to four of the business park together," he hinted.
Guangsha's first project in Dubai and the region, Meydan's Falcon Car park, helped its case in the Metropolis tender to prove its ability to adhere to deadline and deliver quality at the same time, said Al Tayer.
"We're looking for partners with which we can have a solid relationship."
Metropolis
Land sale on
Following the speedy completion of the racecourse Meydan has sold land to develop a gated villa community to business man Joseph Ghossoub, chairman of G & Co. The 2.8 million square feet Metropolis Business Park Phase I is to be completed within 24 months. Future phases could be adapted to demand, but Al Tayer is determined to bring enough partners on board to maintain the original plan, citing its advantage as free zone.
Meydan Metropolis will eventually house the offices as well as retail, hotel and residential components. Guangsha Middle East Construction may well team up with Meydan to develop future components, the contractor's managing director, Shili Yu, told Gulf News.
— N.W.
