Monday 18 February 2019

Eagle Hills awards Fujairah Beach contract

ABU DHABI, February 7, 2018

Eagle Hills Abu Dhabi, a leading real estate and development company, has awarded the construction and infrastructure works contract for its Fujairah Beach development to Ghantoot Transport & General Contracting.

The Abu Dhabi-based private real estate investment and development company made the announcement during an official signing ceremony, marking a significant milestone in the progress of the beachside luxury hotel and residential villa development in Fujairah.

As per the deal, Ghantoot will be responsible for the development of the entire 38,258-sq-m site, which will be home to the 167-key Palace Hotel, 80 luxury villas and the associated infrastructure that will turn the Eagle Hills vision for the resort into a reality.

CEO Low Ping said: "We are pleased to appoint Ghantoot Transport & General Contracting given their strong reputation and portfolio. This milestone brings us a step closer to delivering this exciting development to Fujairah."

"Fujairah Beach offers a truly unique investment opportunity to buyers as it is situated on the beach and within the city, and we have already witnessed a huge level of demand coming from investors. The project is on track for its 2019 completion and this announcement demonstrates our commitment to the world-class levels of construction Eagle Hills is known for," stated Ping.

With a strong portfolio and heritage dating back over three decades, Ghantoot Transport & General Contracting boasts a wealth of experience in building high-end mixed-use developments across the UAE.

On the win, Ali Mohammed Sadeq Al Blooshi, the chairman of Ghantoot Group, said: "We are honoured to be working with Eagle Hills, offering our vast experience and excellent track record that will ensure this project is executed to the highest quality standards."

The mixed-use development will feature a gated residential community, comprising 80 villas and townhouses available in two-, three- and four-bedroom layouts with stunning beach, garden and city views.

Fujairah Beach is centrally located, with an eight-minute drive from the local airport, and 35 minutes away from the border of Oman.

It is expected to be completed by 2019 and will be the first residential development in Fujairah with direct access to the beach on the Gulf of Oman coastline.

The new Palace Fujairah Beach is a premium luxury hotel that will be managed by the renowned Address Hotels + Resorts brand. It will offer a health club, select cafes, high-quality dining outlets, separate pool for adults and children and world-class meeting venues - ideal for families and business guests.

In addition to the UAE, Eagle Hills is developing projects in Morocco, Bahrain, Jordan and Serbia, where it is working to reinvigorate city hubs, improving the standard of living and increasing investment in the local economies.

In the UAE, Eagle Hills is working closely with the Fujairah and Dibba Fujairah Municipalities on two projects, namely Fujairah Beach and The Address Fujairah Resort + Spa, where it is committed to boosting the economies of the Northern Emirates.

In August last year, the company announced the signing of a Dh300-million ($81.6 million) facility with the National Bank of Fujairah to finance the ongoing construction of Fujairah Beach.-TradeArabia News Service

Tags: contract | Eagle Hills |

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