The Saba Group has awarded a Dh170 million contract to Arabian Construction Co (ACC) for the 36-storey Saba Tower I.
This followed a comprehensive due diligence, including a public tender and several rounds of evaluation and assessment by the company's project development team.
"Our choice of ACC for the construction contract was made on the basis of their proven ability and experience in the execution of several complex and demanding real-estate development projects across the UAE and the Middle East," said Behrouz Javaheri, chairman of Saba Group.
Saba Tower is one of the first real estate developments in the Jumeirah Lake Towers, promoted by Nakheel.
Offering views of The Palm Jumeirah and a short distance from Dubai Internet City and Dubai Media City, the 36-storey tower was conceived as a high-quality commercial project.
Piling and foundation work was completed ahead of schedule.
"Full-scale construction of the project has started and we expect to adhere to the time-lines that we have committed to our customers," added Javaheri.
Saba Tower I is the first in a series of planned investments amounting to $1.2 billion by the Saba Group in the freehold property sector.
In November, it launched the first twin-tower freehold residential complex the 36-storey Saba Tower 2 and 3 in the Jumeirah Lake Towers community.
The primary consultant for the Saba Tower project is Britain's RMJM.
Saba Tower offers office space ranging from 1,132 square feet to an entire floor of more than 9,000 square feet at Dh500 per square foot.
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