Abyaar Real Estate Development has signed a Leter of Intent (LOI) with Al Habtoor Engineering Enterprises to build its two residential towers in the Acacia Avenues project in Dubai, the company said. The two towers, Olgana and Hilliana, have a contract value that will exceed Dh700 million and are expected to take 25 months to complete.
Middle East Foundation is currently doing the pilling work for both the towers, which is expected to finish in June 2008 when Al Habtoor will begin construction.
Dr Abdul Elbilly, Abyaar's Chief Operations Officer said that the selection of Al Habtoor Engineering complements Abyaar's vision to deliver high end products to its customer.
"This is our first project with Al Habtoor and it is part of our commitment to our investors to deliver high quality products," he said. " The Hilliana and Olgana projects are currently our most luxurious products and we hope that our alliance with Al Habtoor will be for the long term."
Managing Director of the Al Habtoor Leighton Group, David Savage, said that he was delighted that it was signed the LOI with Abyaar. "Abyaar is one of the leading developers in the region, and Acacia Avenues is one of its landmark projects," he said. Launched by Abyaar in 2006, Acacia Avenues is billed as the first freehold project in Jumeirah.
The Dh2 billion project is an exclusive gated community comprising 50 villas and 6 towers on a 94,000 square-meter site adjacent to Knowlege Village.
With pedestrian access throughout, Acaica Avenues will feature premium facilities including a luxurious health club, swimming pools, spa, squash courts, cafes and shops. The initial phase of the project will see the 38-storey Olgana tower and the 45 storey Hilliana tower, offering a tolal of 285 apartments including townhouses, sky villas and penthouses.
Hilliana will include six floors of high-end serviced apartments. They are scheduled for occupancy in 2010.
Article source: business24-7.ae
Middle East Foundation is currently doing the pilling work for both the towers, which is expected to finish in June 2008 when Al Habtoor will begin construction.
Dr Abdul Elbilly, Abyaar's Chief Operations Officer said that the selection of Al Habtoor Engineering complements Abyaar's vision to deliver high end products to its customer.
"This is our first project with Al Habtoor and it is part of our commitment to our investors to deliver high quality products," he said. " The Hilliana and Olgana projects are currently our most luxurious products and we hope that our alliance with Al Habtoor will be for the long term."
Managing Director of the Al Habtoor Leighton Group, David Savage, said that he was delighted that it was signed the LOI with Abyaar. "Abyaar is one of the leading developers in the region, and Acacia Avenues is one of its landmark projects," he said. Launched by Abyaar in 2006, Acacia Avenues is billed as the first freehold project in Jumeirah.
The Dh2 billion project is an exclusive gated community comprising 50 villas and 6 towers on a 94,000 square-meter site adjacent to Knowlege Village.
With pedestrian access throughout, Acaica Avenues will feature premium facilities including a luxurious health club, swimming pools, spa, squash courts, cafes and shops. The initial phase of the project will see the 38-storey Olgana tower and the 45 storey Hilliana tower, offering a tolal of 285 apartments including townhouses, sky villas and penthouses.
Hilliana will include six floors of high-end serviced apartments. They are scheduled for occupancy in 2010.
Article source: business24-7.ae
0 comments:
Post a Comment