Dubai to get another high-rise building by 2017
Builder of the Burj Khalifa awarded AED1.8 billion construction contract.
November 6, 2013 4:11 by kippreport
Arabtec Construction LLC, a subsidiary of Arabtec Holding PJSC, has been awarded a contract of AED1.8 billion for the construction of another high-rise tower on Sheikh Zayed Road in Dubai.
The 77-floor mixed-use building will be constructed merely one block away from the Burj Khalifa and will be one of the city’s top ten tallest buildings, at a height of 369.1 metres.
It will comprise more than 22,000 square metres of office space on 18 floors and 908 square metres of retail area, along with a new international 350-room hotel, and 83 serviced and 180 luxurious apartments. According to the company, negotiations are under way with a number of hospitality brands for the management of the six-star hotel and serviced apartments, which will collectively occupy 25 floors. Construction of the tower, designed by Atkins, is scheduled to begin in mid November and will take 42 months to complete.
According to Hasan Abdullah Ismaik, managing director and CEO of Arabtec Holding, this project is another indication that the property sectors of the UAE and Mena region are recovering.
When the tower is completed in May 2017, it will be the world’s 26th tallest building. Arabtec Construction has built seven of the world’s 150 tallest structures, including the world’s tallest man-made structure – the 830-metre Burj Khalifa.
Last month, the company announced that it had been awarded a contract for the construction of the final phase of the Tiara Hotel on Palm Jumeirah. The project includes two mixed-use towers, 116 residential apartments and a dedicated 216-room hotel.
Earlier this year, thousands of Arabtec workers went on a two-day strike over pay disputes, when one group asked for a hike of AED250 to be added to their monthly salary. Most reports indicate that the average salaries of Arabtec workers range from between AED650 to AED1,200 per month.
In September, the company announced that it would be granting an average salary hike of 20 per cent to 36,000 of its employees working on projects across the UAE.