Al Dar Properties reveals Dh4.5b Central Market plans

Abu Dhabi: Al Dar Properties yesterday revealed the master plan and award winning design of its flagship Dh 4.5 billion Central Market.

The development which is scheduled for completion by May 2010 will be delivered in phases, first of which will be the traditional Souq by 2008.

"The owners of traditional shops in the old Souq will be operating once again in the heart of the city, as we shall give them the outlets free of charge," Ahmad Ali Al Sayegh, chairman of Al Dar said to the reporters.

Bidders

The project stretches on an area of 650,000 square metres, and comprises of a 374 metres, 88 floors high residential tower, and a 280 metres, 60 floors commercial tower, as well as a 254 metres, 58 floors hotel building.

An elevated park stretching on an area of 238,000 square metres will provide for the ambience of the marketplace.

"There are so far four pre-qualified bidders for the construction tender, and these are ACC, B-Six of Belgium, Nasa Multiplex, and a consortium of Taisai, Samsung, and Arabtech. The winning bid will be announced in January, explained Ronald Barrot, Al Dar's chief executive officer.