IFA Hotels & Resorts (IFA HR) has appointed Dubai Contracting Company (DCC) as the main contractor for the first phase of its Kingdom of Sheba resort project.
Located on the crescent of Dubai’s Palm Jumeirah, the Kingdom of Sheba is modelled on classic Arabian architecture and will consist of five separate and unique elements.
The contract worth over Dh1 billion ($273 million) will involve construction of a residential component, Balqis Residence, and the Private Residence Club, Fairmont Heritage Place in the first phase.
Balqis Residence comprises 300 sea-view residences from villas, townhouses, apartments and penthouses; all to be managed by Fairmont Hotels & Resorts, said an IFA HR official.
Fairmont Heritage Place is the fractional ownership component and will offer just 46 homes, each divided into saleable fractions of 1/10th.
“We are truly delighted to have contracted DCC for the first phase of our Kingdom of Sheba resort as they have a stellar track record working on sizeable residential and commercial projects both in the UAE and abroad.
We have already established a healthy working partnership with DCC on past projects in Dubai, including our Fairmont Palm Hotel & Resort on the trunk of the Palm Jumeriah and we couldn’t be more pleased to be teaming with them once again,” said Werner Burger, president and COO of IFA HR.
Abdallah Yabroudi, CEO of DCC, said: “This is a very exciting project and we look forward to collaborating on future projects with IFA Hotels & Resorts.”
Managed by Fairmont Hotels & Resorts, the resort will include upon completion Balqis Residence, Fairmont Heritage Place, Fairmont Kingdom of Sheba (hotel), Kingdom of Sheba Vacation Club and a traditional Souq (retail plaza), covering 141,500 sq m of prime property on the island.
“We are pleased to have negotiated this contract with DCC; true synergy and innovation will flourish from this partnership. DCC will now begin with the raft foundations as all piling works have recently been completed,” said Richard Haddon, vice president of construction Dubai at IFA HR.-TradeArabia News Service