UAE Focus

Two of the largest real estate developers in the UAE – Dubai-based Emaar Properties and Abu Dhabi-based Aldar Properties – have entered into a strategic joint venture to develop projects worth Dh30 billion ($8.17 billion) locally and internationally.

HH Sheikh Mohammed bin Rashid Al Maktoum, the UAE Vice President, Prime Minister and Ruler of Dubai, last month visited Bluewaters Island, a new man-made island in Dubai, and reviewed the progress of the Dh6-billion ($1.633 billion) project.

Bright Accord General Contracting has been awarded the first construction package on the Al Fahid Island Development, a high-end mixed-use waterfront development in Abu Dhabi. The local contractor has been awarded the nine-month reclamation package and construction work has now begun on site.

Etihad Rail, the developer and operator of the UAE’s national rail network, is set to issue construction tenders for the second phase of the nation-wide railway network, which will run 628 km, connecting the country’s sea ports and Phase One of the project, said a top official.

UAE-based Continental Investments, a leading real estate developer, has launched its Dh1-billion ($272 million) Rukan Residence project, offering upscale living in Dubailand. Rukan Residence is located next to Arabian Ranches project, top shopping centres, golf courses and entertainment facilities. Some 70 per cent of the 2.

Dubai Properties has officially launched Marasi Marina, the first fully-operational jetty at the Dubai Water Canal, making it the only marina in the heart of the city. The 157-berth, members-only marina spans an area of 40,000 sq m and is the latest addition to Dubai Properties’ Marasi Business Bay portfolio.

Modon Properties, a master developer mandated by the Abu Dhabi government to develop housing projects in the emirate, has appointed Arabtec Construction to build Al Riyadh City Show Village located in Khalifa City.

Dubai Electricity and Water Authority (Dewa) recently awarded contracts worth a total of Dh2.15 billion ($585.2 million) in the power and water sectors.

Emirates Motor Company Daimler Commercial Vehicles (EMC – CV) will supply Khalfan Abdullah General Contracting and Transport (Khalfest) with a first batch of 15 6x6 trucks as part of a long-term plan to supply Mercedes-Benz and Titan trucks.

UAE Vice President and Prime Minister and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum has broken ground on the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, the biggest concentrated solar power (CSP) project in the world.

LuLu hub at Wholesale City LuLu Group International, the top retailer in the Middle East, has signed an agreement with Dubai Wholesale City (DWSC) to set up a central logistics hub within the fully integrated facility at an investment of Dh300 million ($82 million). Work will soon start on the 1.

Dubai-based ultra-luxury developer Omniyat has appointed a joint venture of Roberts Constructions and Impresa Pizzarotti & C as the contractor for its Dorchester Collection project in Marasi, Dubai Canal.  Work on the site has already begun and the project is due for completion in 2020.

Dubai-based property developer Seven Tides has signed a $3.2-billion agreement with the Philippines’ Revolution Precrafted for building condominium units and hotel villas on one of the artificial islands in The World Islands in Dubai.

Al Futtaim Auto & Machinery Company (Famco) has announced the launch of the Volvo Trucks advanced safety features in the UAE. The launch event was attended by senior management from Volvo Trucks and Famco and was held at the Famco premises at Dubai Investment Park.