|Real Estate News|
Leading real estate developer, Al Fajer Properties today awarded an AED55 million contract to Arabian Forasol for enabling works on the five Jumeirah Business Center Towers, the company’s state-of-the-art freehold commercial development located within the prestigious Jumeirah Lake Towers.
Through the agreement Arabian Forasol will complete shoring, excavation, dewatering and piling works that precede the building process of the tower.
Pioneers in advanced foundation technology, Arabian Forasol commenced work on the mega project prior to the traditional ground breaking ceremony held at the project site which was attended by His Highness Sheikh Hasher Bin Maktoum Al Maktoum, Dr. Shahram Abdullah Zadeh, Chief Executive Officer of Al Fajer Properties, Mr. Ahmed Bin Sulayem, Chief Operating Officer of Dubai Multi Commodities Center, Mr. Gabriel Lahyani, Managing Director of Arabian Forasol and other senior officials.
‘At Jumeirah Business Center, we have redefined the modern office tower through luxurious finishing and new innovations. It is only imperative that the foundation which represents the most significant component of any construction project be entrusted to the industry leaders. Arabian Forasol is a renowned name within the UAE construction industry and their in-depth knowledge, expertise and market experience gave us the confidence to award them the piling and shoring contract.’ said Dr. Shahram Abdullah Zadeh, Chief Executive Officer of Al Fajer Properties.
Al Fajer Properties LLC is a subsidiary of Al Fajer Enterprises - established in the year 1965, by its Group President His Highness Sheikh Hasher Bin Maktoum Al Maktoum. Al Fajer Enterprises has rapidly grown to a diversified business entity delivering high quality service to its wide range of clients. With more than 12,000 employees, the Group’s business interests over the past 40 years include a leading construction company, property maintenance and management services, engineering and consultancy, international fairs and exhibitions, manufacturing, travel & tourism, pharmaceuticals, general trading and investments & development.
Commenting on winning the tender, Mr. Gabriel E. Layhani, Managing Director - Arabian Forasol said: ‘It is a privilege for us to be associated with the development of a unique and pioneering project like Jumeirah Business Center. The shoring and excavation on this site is almost complete and piling work shall begin very shortly, putting the development of the project on schedule for delivery.
Highlighting Al Fajer Property’s investment, Ahmad Bin Sulayem, Chief Operating Officer -Dubai Multi Commodities Center (COO - DMCC), said, ‘The Jumeirah Business Center towers with its cutting edge architectural design and technological concepts will add to the reputation of Jumeirah Lake Towers as the most sought after investment opportunity. We are delighted to have a reputable group like Al Fajer as our biggest investors.’
Commenting further, Dr. Shahram Abdullah Zadeh said, ‘Thanks to Nakheel and Dubai Multi Commodities Center Management, Jumeirah Lake Towers has become undoubtedly the best master plan amongst Dubai’s impressive projects. The advanced stage of infrastructure and continuous efforts in introducing innovative ideas to ensure the future requirements of the entire Jumeirah Lake Towers community has made it extremely popular with the developers and investors alike.’
Launched in two separate phases in December 2005 and February 2006, the first four towers at Jumeirah Business Center were sold out in record time, while preparations are underway for the launch of Jumeirah Business Center 5 with a new guaranteed pre-approved finance package. The unique state-of-the-art facilities of Jumeirah Business Center Towers cumulatively offer exclusive freehold offices totaling a leaseable area of 2 million square feet and an additional 100,000 square feet dedicated for the shopping boulevard. The development offers flexible office units ranging from 800 square feet to 11,000 square feet.
Arabian-Forasol Foundations LLC, is a member of the Al Ghurair Group of Companies. An affiliate of Switzerland’s Forasol International, Arabian-Forasol enjoys an unmatched record across its vast regional experience in specialized foundation engineering. Attuned to all technological advancements in its business, the company complies with rigid quality standards across its core business of piling and shoring technology.
Jumeirah Lake Towers is a distinctive master development with a fine balance of landscape and waterscape. This integrated community of residential, commercial and retail spaces is set to redefine modern lifestyle with world-class leisure options, lakeside promenades and specialized dining choices. In this inspiring setting, taking the pride of place among the clusters of commercial and residential towers is Jumeirah Business Centre Towers.