Al Habtoor bags $3.6bn Damac contract
Dubai, May 10, 2008
Damac Properties, the luxury lifestyle provider and Middle East’s largest private sector master developer, has awarded an Dh13.5 million ($3.6 million) contract for enabling works at its Park Central and Capital Bay Tower projects at Business Bay, the nerve centre of business in Dubai.
The contracts have been given to Al Habtoor Engineering Enterprises - one of the leading names in construction and engineering field in the region.
“We at Damac Properties take extreme care that our projects are executed and handled by well-known and experienced contractors to ensure that there is no compromise on the quality aspects of our properties. We are pleased to join hands with Al Habtoor Engineering, which is ranked first in the field of building construction and engineering,” said chairman of Damac Holding Hussain Sajwani.
Park Central and Capital Bay are commercial towers at Business Bay, comprising state-of-the-art office spaces as well as exquisite retail and recreational facilities.
Park Central is a 17-storey office tower with beautiful and serene landscape. The design and layout of the offices provide fantastic lake views from three sides of the tower and offers the varied range of facilities and amenities.
Complementing Park Central, Capital Bay is a 19-storey office tower that provides an exclusive world of boutique retail space on the ground level with parking at four levels.
The towers offer a well-designed workplace with innovative state-of-the-art facilities like swipe access, hi-speed internet, business lounge, reception desk and 24-hour security with security cameras.
“Damac projects have been well accepted by the customers as they showcase great ambience and are centrally located. Our projects in Business Bay have seen a considerable increase in their annual appreciation value and create perfect investment opportunities. Park Central and Capital Bay will offer the best of luxury with comfort and elegance woven into the finest detail and we are happy to team with Al Habtoor to extend world-class commercial amenities,” said CEO of Damac Properties Peter Riddoch.
Damac Holding has now grown into a global conglomerate with more than 7,000 employees in 18 countries. Being one of the first private sector company to make a commitment to Dubai’s real estate market, Damac Properties has become the market leader with a strong sales record to its credit. – TradeArabia News Service
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