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Ascon Construction gets contract for Palladium tower

- June 15, 2005, 12:30 am

ETA Star, one of the premier property developers in the Middle East, has awarded a Dh122 million construction contract for The Palladium tower to Ascon Construction, its sister concern.

Construction of the proposed 34-storey office, retail and residential complex in Jumeirah Lake Towers will commence soon.

According to the terms of the contract, Ascon will be responsible for building a mixed-use apartment complex spanning over half-a-million square feet of built-up area.

The complex, of which over 90 per cent is already sold out, is scheduled for completion by the third quarter of 2007.

Ascon Construction has been involved in the construction of several projects including the Deira City Centre, Jumeirah Beach Hotel and the Dubai Business Centre.

The Palladium is located in the Jumeirah Lake district, close to the Mina Seyahi Beaches and next to the Dubai Metals and Commodities Centre (DMCC).

Designed by DAR Consultants, the mixed-use complex features one-, two- and three-bedroom apartments and penthouses with views of the lake on one side and a city vista on the other.

Abid Junaid, executive director at ETA Star Properties, said, “The high-rise will cater to people wanting to live and work in, and close to, the Jumeirah Lake district area.”

“ETA has carved a niche for offering luxurious yet affordable lifestyle properties in prime locations in Dubai and we are certain The Palladium will be a much sought-after jewel in our portfolio.”

Source - Gulf News

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