|Real Estate News|
Armada Group, a UAE-based investment organisation, and CSHK Dubai Contracting, the local affiliate of China State Construction Engineering Corp (Hong Kong) Ltd, have signed a Dh315 million agreement for the construction of Armada Towers at the Jumeirah Lake Towers in the new Downtown Dubai.
The agreement was signed by Dr Mohammad Raheef Hakmi, chairman of Armada Group, and Sun Wenjie, president of China State Construction Engineering Corp.
“CSHK Dubai Contracting was awarded the prestigious contract because of its track record in the industry,” said Dr Hakmi.
Sun Wenjie added: “The agreement also reiterates the value and the importance we place in a deal like this with Armada Group in Dubai.”
CSHK Dubai Contracting will complete the Armada Towers contract in about 28 months.
The Armada Group has already invested more than Dh1 billion in the Armada Towers.
The three Armada Towers are expected to comprise 1,200 apartments and occupy 60,000 square feet, with the cost of land totalling Dh55 million.
Armada Towers will have 21,000 square feet of external and 15,000 square feet of internal retail space, and will also house 12 luxurious penthouses, four in each tower.
The piling works for the three towers have been completed by APCC, an Abu Dhabi-based piling company, while the dewatering work has
been awarded to Al Naboodah-WJ.
Source - Gulf News