Damac awards $219m IMPZ contract
Dubai, July 26, 2008
Luxury lifestyle provider Damac Properties has awarded a Dh805 million ($219 million) contract to Intermass Engineering and Contracting Company for its Lakeside project at International Media production Zone (IMPZ).
Intermass is a leading contractor in the UAE associated with several landmarks in the country.
Lakeside project is Damac’s third project in IMPZ and is due for completion by December 2010.
The company’s previous two projects - the Crescent and Lago Vista in IMPZ - were also built by Intermass.
’Intermass are one of the leaders in the engineering and construction industry in the UAE today and their appointment as main contractors is due to our faith in the quality of their work and our past experience with them,’ Peter Riddoch, CEO at Damac Properties.
’We have no doubt that they will deliver a product that offers state-of-the-art luxury and comfort to the residents at Lakeside,’ he added.
Situated on the Emirates Road, the IMPZ is in close proximity to the Jebel Ali Port and the Jebel Ali Airport City, a unique free zone incorporating a vast array of residential, industrial, commercial and community service projects.
The project’s prestigious location – IMPZ – extends a sophisticated lifestyle with unique facilities including in-campus transportation, medical centre, schools, hotels, shopping centres, restaurants, amphitheatre, sports grounds and full-fledged fitness clubs.
“We are delighted to commence construction of yet another masterpiece for the discerning community in the Middle East and worldwide. Lakeside at the IMPZ is a strategic development offering everything that one seeks – from state-of-the-art facilities to eco-friendly environment,” Riddoch observed.
A complex of two 21-storey and two 22-storey towers, Lakeside will have studio and one-bedroom apartments with state-of-the-art accessories, thoughtfully planned space and utilities and elegantly designed interiors.
The project will also offer the perfect choice of amenities such as health clubs for men and women, steam and sauna facilities, gymnasium, aerobic centre, swimming pools, children’s play area, barbecue area, function room, tennis court and access to golf courses.-TradeArabia News Service