Business | Property

Sweet Homes begins work on Dh1.7b Rainbow Towers in Dubai

Sweet Homes has announced the beginning of the preliminary phase of construction for its Dh1.7 billion Rainbow Towers project in Emirates City, marking the developer's maiden offering as a full-service real estate company.

  • Staff Report
  • Published: 00:01 March 16, 2008
  • Gulf News

  • The Rainbow Towers project, which comprises nine buildings, is due for completion in 2010.
  • Image Credit: Supplied Picture

Dubai: Sweet Homes has announced the beginning of the preliminary phase of construction for its Dh1.7 billion Rainbow Towers project in Emirates City, marking the developer's maiden offering as a full-service real estate company.

This followed the recent awarding of a Dh12 million shoring and excavation contract to Piling Tech for the initial groundwork for towers B10, B14 and B15 - three out of the nine towers in the development.

The developer has also awarded the design and supervision consultancy of the project to Adnan Saffarini Office, an engineering consultancy firm.

The project is due for completion in 2010.

"Our decision to award the shoring and excavation contract to Piling Tech has been based on their impressive background, track record and on competitive bidding on lowest cost basis, which includes other developments in the UAE," said Fahad Sattar Dero, CEO, Sweet Homes Group.

With a current project portfolio valued at Dh3.5 billion, Sweet Homes has also recently announced its plan to invest Dh2 billion in real estate developments across the Middle East this year.

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