Business | Property
Sweet Homes awards Dh450m contract
Sweet Homes, a leading UAE-based developer and total solutions provider to the real estate sector, has awarded a Dh450 million contract to Sharjah-based Master Civil Construction Company for the construction of Towers B10, B14 and B15 - three out of the nine towers comprising its Dh1.7 billion Rainbow Towers project.
- Staff Report
- Published: 23:58 January 6, 2009
Dubai: Sweet Homes, a leading UAE-based developer and total solutions provider to the real estate sector, has awarded a Dh450 million contract to Sharjah-based Master Civil Construction Company for the construction of Towers B10, B14 and B15 - three out of the nine towers comprising its Dh1.7 billion Rainbow Towers project.
The move follows the completion of a Dh12 million shoring and excavation contract undertaken by Piling Tech LLC for the initial groundwork of the three towers.
The high profile residential project in Emirates City in Ajman marks the developer's first project in the UAE, and is set for completion by the last quarter of 2010.
The agreement was signed by Fahad Sattar Dero, CEO of Sweet Homes Group, and Ehab Nagati Khafagi, General Manager of Master Civil Construction Company, following a groundbreaking ceremony held recently at the construction site.
The contractor has committed to complete construction within 24 months through its team of engineers, project managers, site supervisors, quantity surveyors and construction workers that have been assigned to the project.
The developer has also named Eng Adnan Saffarini Office, a leading international engineering consultancy firm, as the design and supervision consultant for the project.
Rainbow Towers is expected to bear the hallmark of the contractor's high quality construction, evident in ongoing projects.
"Rainbow Towers is our first real estate venture and it is only fitting that we partner with the best and most experienced firms to ensure the implementation of best-of-breed industry standards in our projects' construction processes," said Fahad Sattar Dero.
In addition to the development's highly accessible location and top-notch facilities, it has also caught the attention of investors through its unique and highly flexible four-year self-financed payment scheme.
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