Baniyas $816m project on track
Abu Dhabi, October 16, 2011
Baniyas Investment and Development (BID) – the investment arm of Baniyas Sports Club – has announced that the construction work on its Dh3 billion ($816.7 million) mixed-use development in Bani Yas is on schedule.
Infrastructure works on Phase II villas of Bawabat Al Sharq are currently underway, a statement said.
Royal International Construction, the established local contractor in the UAE, is currently working with full speed on site, according to the statement.
A total of 58 villas within Phase II of Bawabat Al Sharq which are due to be delivered in December are now close to completion; in addition to that, works in the remaining 71 villas, which are due to be handed over in June 2012 are progressing as per the schedule, the statement said.
“Bawabat Al Sharq is a world-class masterpiece and reflects our unmatched commitment to offer high quality projects, reinforcing our position as a leading player in the Middle East real estate milieu,” said Wael Tawil, chief executive officer of BID.
“We are obliged to enrich the quality of people’s lives. With the amazing work which has been completed till now, we are confident about meeting our scheduled completion deadline for the Villas within Phase II of our Bawabat Al Sharq.”
Adel Bayoun, VP Operations of BID, said: “As part of our commitment to finish the works on time, we have put BAS Phase II Villas into 2 milestones.”
“Seventy per cent man-hours have been utilized in the 1st milestone, 58 villas, which is progressing as per schedule and 15 per cent man-hours have been utilized in the 2nd milestone, 71 villas, which is due in June 2012.”
Bawabat Al Sharq is an ideal mix of modern residential, retail, entertainment and sporting facilities.
The project comprises premium apartments, villas, health care facilities, an international school, a Fifa standard football stadium with a seating capacity of more than 20,000 spectators and a distinctive 70,000 GLA mall that will include 339 high profile retail outlets. – TradeArabia News Service