| 02 Dec 2008 |
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Palm projects on schedule, says Azizi Investments
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Azizi InvestmentsAzizi Investments
yesterday said none of its projects at the Palm Jebel Ali has been scaled down and work will continue as scheduled. The company made this clarification following an announcement by Nakheel that some projects in Palm Jebel Ali would be scaled down.
Azizi InvestmentsAzizi Investments
has five projects at the Palm Jebel Ali. According to Merwiss AziziAzizi
, Founder and Chairman of Azizi InvestmentsAzizi Investments, the concept design of Azizi Crystal at Crescent A of the Palm was approved last week. In a statement yesterday the company said, "Azizi InvestmentsAzizi Investments
' Palm Jebel Ali developments are there on Crescent A and Crescent E, where work by Nakheel is "continuing as planned". "The land will be handed over to us by the master developer next year. We are expecting Crescent A by February or latest by March and are planning to start construction work by April. We are calculating 24 months for the actual construction to be complete," said a company spokesperson.
The land in Crescent E will be handed over only by the third quarter of 2009.
Azizi InvestmentsAzizi Investments
' projects on Palm Jebel Ali are Azizi Fontanne, Azizi Diamond, Azizi Crystal and Azizi Platine on Crescent A, and Azizi Onyx on Crescent E. According to the company, it is committed to delivery of every project on schedule. "Our clear focus is on quality of design, quality of build and outstanding customer service. While we understand the need for Nakheel to scale back its projects in the current economic climate, we are very pleased that this does not affect our progress," the company said.
"We are also moving forward with our projects at Al Furjan and Mina Rashid, other Nakheel projects which also remain unaffected," it added.
The company however said the Dh3.5 billion construction contract for the 12 plots it owns at Al Furjan would be awarded soon.
Speaking to Emirates Business during Cityscape, Vice-Chairman Furhad AziziAzizi
had said the contract would be awarded by November. "Negotiations are on and is at the final stage with contractors. We will be announcing the contract soon," said a company spokesperson .
The company is negotiating with Arabtec, which is already working on the Al Furjan project and other contractors such as Al Shafar General Contracting and Al Naboodah.
Soil testing and piling work for the project is already complete.
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