Ithra Dubai, a real estate company owned by sovereign wealth fund Investment Corporation of Dubai (ICD), on Wednesday said it has achieved a major milestone at its One Za'abeel Tower project, with work finally starting on site.
The company has appointed Alec Engineering & Construction (Alec) to build the project, with work due to be completed by the end of 2020.
One Za'abeel is a major, mixed-use scheme consisting of two major towers linked horizontally by a huge cantilever known as The Linx that will provide a sky concourse 100 metres above ground. The ambitious project, which was first announced back in 2008, will contain 37,000 square metres of offices, two hotels (one, 90-room ultra-luxury and a 314-room luxury property), 263 apartments, 12,000 square metres of retail in a podium area known as The Gallery, and parking for 2,500 cars.
One of the towers will be 67 floors high and the other 57 floors. The towers have been designed by Japanese architects Nikken Sekkei, with WSP as structural engineer.One Za'abeel Tower project
Site excavation, preparatory works and shoring and piling work have now been completed, Ithra said, and the construction of a seven-floor basement is underway.
ICD also owns 90 percent of Alec, having bought the stake from the Abu Dhabi-based Al Jaber Group earlier this year, via its subsidiary Binaa Dubai. The remaining 10 percent of Alec is owned by the company's management.
Alec has been added to a stable of contracting companies that ICD has acquired in recent years, including South Korean contractor Ssangyong Engineering & Construction (in which it holds a 98.97 percent stake) and Cleveland Bridge & Engineering (51 percent).
“With the recent appointment of Alec as the main contractor, the project has now entered an exciting phase of construction where One Za’abeel and its panoramic 210-metre sky concourse –The Linx - will in due course re-shape the ever-exciting Dubai skyline,” said Issam Galadari, director and CEO of Ithra Dubai.
“One Za’abeel will add value to Dubai and its inhabitants by presenting a new kind of sustainable development for residents, tenants, and visitors alike that revolves around offering an elevated lifestyle,” he added.
© Zawya 2017