Business | Property
Tamouh gives Dh30m deal to Indian firm
Abu Dhabi-based real estate developer Tamouh Investments has awarded a contract valued in excess of Dh30 million to India's Navayuga Engineering for piling and enabling works for a waterfront project on Abu Dhabi's Reem Island, a senior Tamouh executive said on Monday.
- By Himendra Mohan Kumar, Staff Reporter
- Published: 23:06 June 16, 2008
Abu Dhabi: Abu Dhabi-based real estate developer Tamouh Investments has awarded a contract valued in excess of Dh30 million to India's Navayuga Engineering for piling and enabling works for a waterfront project on Abu Dhabi's Reem Island, a senior Tamouh executive said on Monday.
Project Director Steven Lee told Gulf News that the project assigned to Navayuga Engineering will be completed within six months.
"After that, the main contractor takes over, who we are still in the process of finalising," said Lee.
Navayuga said it had marked its entry into the UAE market with a ground-breaking ceremony for the Tamouh project named 'The City of Lights.'
The Plot 13 project in Sector 3 on the Reem Island comprises five towers and podium with single basement and car park.
Navayuga said it targets a turnover of Dh800 million by the end of 2009, and plans to expand to Dubai and Oman within a year.
Business Editor's choice
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
-
Banks can increase their share
Longer opening hours, more locations outside cities and lower charges can help
-
Geepas idea blossomed in Dubai
The journey led from a small shop in Bahrain to a $1.27b company in the UAE
