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Executive Bay real estate development located in Business Bay, Dubai |
DAMAC Properties, Middle East's largest private sector real estate developer, has awarded over a Dh15 million enabling works contract for Executive Bay located in Business Bay, Dubai. The enabling works has commenced and has been awarded to Al Habtoor Engineering Enterprises, one of the leading names in construction in the region.
Peter Riddoch, CEO, DAMAC Properties, said, "Delay in projects have been one of the primary concerns in the construction industry. We at DAMAC are working tirelessly towards curbing this shortcoming that exists within the market and are focusing on timely delivery of projects. This year we have awarded 11 enabling contracts and 2 main works contracts already, which clearly reiterate our commitment towards project completions".
Executive Bay, launched last year, is a 19-storey real estate development that features state-of-the-art office spaces as well as retail and recreational facilities. The ultra-modern business communication and security facilities make it a seamlessly integrated IT-friendly tower sought after by most business community in Dubai. DAMAC Properties will deliver 2300 units in 2008 and a further 7100 units by 2010.
