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Dubai International Properties starts project in Morocco
- December 10, 2005, 9:56 am
Works on the AED 7.5 billion Amwaj project in Rabat, Morocco have commenced, Dubai International Properties (DIP), Dubai Holding’s international investment arm, announced in Al Rabat today.
A ceremony was held at the project site to mark the commencement of the unique community development. The award of major contracts to international construction companies was also announced at the ceremony as was the project’s symbol.
Mohammed Abdullah Al Gergawi, Dubai Holding Executive Chairman, attended the opening ceremony, which also saw the presence of Mostafa Bakoory, Deposit and Management Box General Manager; Farhan Faraidooni, Dubai International Properties Chief Executive, and a number of top Moroccan government officials and businessmen.
Speaking on the occasion, Al Gergawi expressed his trust in how the Amwaj project would further strengthen the solid relationship and how it would be a base to further expand the cooperation between the Moroccan Kingdom and the United Arab Emirates.
Al Gergawi expressed his gratitude and appreciation to the Moroccan King Mohammed The VI, and the Moroccan Government for their great support and encouragement for the project, which would support and ensure the project’s success and achieve its goals.
‘We, in Dubai Holding, are aware of our commitment to the directions of His Highness General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defence, who believes in strengthening the cooperation among the Arab world. He constantly calls on us to share the experience the United Arab Emirates gained from various fields, especially in the property development sector, with our brothers and friends all across the globe,’ Al Gergawi said.
True start
‘Today we witness the true start of this leading project, which expresses the vision of the leaders of both countries on the importance of strengthening the mutual partnership between both countries - a relationship that in past decades was marked by special and distinct ties, not only politically and economically, but also socially,’ Al Gergawi added.
Mostafa Bakoory expressed his trust in how Amwaj project would contribute in accelerating the economic development in the Moroccan Kingdom, as it would be a landmark and an icon, reflective of the deep relations among the two countries upon its completion.
Bakoory said DIP is already in a leading position among well-known property development companies both locally and globally. DIP has unique experience and resources, which would qualify it to execute such large and world-class projects.
Farhan Faraidooni, DIP CEO, announced the names of the companies that were granted the contracts to carry out the huge project, confirming they are well known in their field. Those companies have previously participated in large projects of high standards and quality.
Major contractors
‘Our choice of those companies who were granted the contracts was based on high international standards. The Project Management Contract was given to Hill International consulting company; Architectural and Engineering Design Contract was awarded to Bernard Reichen company, and Interior Design Contract was granted to world renowned designer Jean Nouvelle,’ Faraidooni said.
He said that the master plan of the project is close to completion. Construction work should commence in the first quarter of 2006. All project is expected to be completed in 2009.
Morrocan heritage
Faraidooni said: ‘DIP will work on completing the project in a unique way that preserves the spirit of Moroccan architecture so that Moroccan originality and heritage mixes with modernism and creativity. The purpose is to unify all the project’s buildings’ appearance that reflects the area’s originality and the greatness of Moroccan architecture, especially in Al Rabat.’
He pointed out that Amwaj project would represent an ideal city providing all the needs of a modern lifestyle. It would largely contribute to adding more beauty along the banks of Abi Regrag River. This in turn would make the area a tourist and entertainment destination.
DIP had announced the Amwaj project last May. It costs around US $2 billion and will sprawl across 100 hectares of space along the banks of Abi Regrag River, to create a unique waterfront development that would make the area a great attraction.
The project includes a yacht harbor, a chain of hotels and 3,k 4 and 5-star resorts, a conference centre, residential units of different designs, services and technology equipped offices, shops and shopping malls, water gardens, a cinema, and open spaces.
DIP has so far announced 5 large projects that cost more than AED 13.5 billion. Beside the Amwaj project, which is considered as the largest of its kind in North Africa, DIP has started on the Dubai Towers - Doha last February, which is to cost more than AED 1 billion. A month later, DIP announced another project close to Muscat, Oman under the name of Salam - Resort and Spa which costs around AED 3 billion. DIP revealed last month their first project in Turkey under the name Dubai Towers - Istanbul which costs around AED 2 billion.
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