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Tameer Holding gives contract for constructing Palace Towers
- April 24, 2007, 8:03 pm
Tameer Holding, the region’s leading real estate company, today announced a deal worth AED 300 million with United Engineer Contracting LLC (UNEC), for the construction of the Palace Towers situated in Dubai Silicon Oasis, outbidding many known companies for the project.
UNEC, one of the largest contracting companies in the Middle East, will build the development that consists of 424 residential units of studio apartments, 1 and 2 bedrooms, 150 offices and 16 shops on an area of 1,194,873 square feet. The Palace Towers is considered the first project for Tameer Holding in Dubai’s Silicon Oasis, and is a result of the significant economic boom that the service, industry, and commercial sectors are witnessing in the UAE.
‘Those in the property sector can clearly see the ability Tameer Holding has in creating economically viable developments both locally and internationally. It is clear that we have the capability to achieve the requirements necessary for the coming period as the company has (and is) actively studying in great depth the needs and demand of its customers - in a manner which is making us the best property developer in the private sector,” said Omar Ayesh, Tameer Holding President.
He added: ‘Our choice of UNEC, a leading company in the construction industry, comes from the professionalism and commitment the company has thus far exhibited and its capacity to be in line with Tameer’s leading position in the property sector’.
Mr. Abdul Halim Muwahid, Managing Director of UNEC said: ‘We have recognized the challenges that we are to face from day one of award the Palace Towers contract, but we are confident that our track records and quality of achievements will support us to consummate the works as required. This project will add value to the company’s profile, which considers its deal with Tameer as a grand accomplishment by itself, as Tameer are well known in UAE and throughout the region in their field of activities.’
The Palace Towers includes a number of services that satisfies the demand of both residential and business clients, as it consists of two towers allocated to both uses. The residential tower is made up of 22 floors, a basement and 424 units of studio and 1 and 2 bedrooms. The commercial tower consists of 25 floors and a basement, and includes 150 offices, 16 shops and a cafeteria. The project also includes 6 elevators for the offices and 4 for the residential units, 3 gymnasiums, 2 swimming pools, a banquet hall, mini golf facilities, a nursery, and a mosque, with free parking for each unit.
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