ACC wins $236m Abu Dhabi hotel deal
Abu Dhabi, November 12, 2009
Arabian Construction Company (ACC) has won a contract to build the Regent Emirates Pearl Hotel in Abu Dhabi by The Atlas Group, in a joint venture with Tourism Development & Investment Company (TDIC).
The estimated value of the contract is Dh870 million ($236.85 million), a statement said.
Designed by award-winning Austrian architect Dennis Lems, the Regent Emirates Pearl is scheduled to open in 2012 and is located opposite the Emirates Palace hotel on the Abu Dhabi corniche, and adjacent to Etihad Towers, another project that is being constructed by ACC.
The development sits on a 10,000 sq m plot comprising four podium levels plus 45 floors; 377 rooms and suites; 60 furnished apartments and will stand 240m high with a total built-up-area of 130,000 sq m.
TDIC is a master developer of leading tourism real estate assets within Abu Dhabi. The company is charged with assisting the provision of a world-class infrastructure which will fulfil the emirate's ambitions of becoming a truly global destination of distinction.
The Atlas Group is a leading UAE-based telecommunications company which is diversifying into the hospitality sector. The group has a luxury business hotel in Dubai Media City, and is already considering a second Dubai property with long-term plans for boutique hotels and exclusive residential villas in the Seychelles. - TradeArabia News Service