25 August 2009
Ishraqah has awarded the Dh687 million contract of the Onyx Towers to Arabtec Construction, a subsidiary of Arabtec Holding.
The enabling works are nearing completion and construction is scheduled to start in September 2009.
The developer is a real estate development company owned by Al Zahran Group and Bin Mahfouz Group of Saudi Arabia.
The Onyx Towers project is a freehold development located on Sheikh Zayed Road next to Emaar Business Park.
The project will be built on a 22,000 square metre land plot with a total built-up area of 202,800 square metre.
It will consist of three buildings, a 16-storey tower and a 25-storey tower with amenities, office and retail space, and a 14-storey, four-stars business hotel, with 10 suites and 200 rooms.
The project also features space efficiency with 36 high speed elevators and optimum parking for 1,920 cars.
The project management is assigned to Masharea, a multinational Middle East company. KEO International Consultants are responsible for the engineering and the supervision of the works.
Abdullah bin Mattar A Falasi, CEO, Ishraqah, said: "The large investment allocated to this project underscores our belief that Dubai's re-emergence must be supported by developments such as The Onyx, which create the optimum environment for busy executives. The project's location and spectacular views will appeal to the discerning investor."
Riad Kamal, CEO of Arabtec Holding, said: "We are proud to be associated with the development of the Onyx project, which reconfirms our long-term belief and commitment to the UAE construction market."
Ishraqah has awarded the Dh687 million contract of the Onyx Towers to Arabtec Construction, a subsidiary of Arabtec Holding.
The enabling works are nearing completion and construction is scheduled to start in September 2009.
The developer is a real estate development company owned by Al Zahran Group and Bin Mahfouz Group of Saudi Arabia.
The Onyx Towers project is a freehold development located on Sheikh Zayed Road next to Emaar Business Park.
The project will be built on a 22,000 square metre land plot with a total built-up area of 202,800 square metre.
It will consist of three buildings, a 16-storey tower and a 25-storey tower with amenities, office and retail space, and a 14-storey, four-stars business hotel, with 10 suites and 200 rooms.
The project also features space efficiency with 36 high speed elevators and optimum parking for 1,920 cars.
The project management is assigned to Masharea, a multinational Middle East company. KEO International Consultants are responsible for the engineering and the supervision of the works.
Abdullah bin Mattar A Falasi, CEO, Ishraqah, said: "The large investment allocated to this project underscores our belief that Dubai's re-emergence must be supported by developments such as The Onyx, which create the optimum environment for busy executives. The project's location and spectacular views will appeal to the discerning investor."
Riad Kamal, CEO of Arabtec Holding, said: "We are proud to be associated with the development of the Onyx project, which reconfirms our long-term belief and commitment to the UAE construction market."
By Staff Writer
© Emirates Business 24/7 2009
