The $163m project in Business Bay, re-launched this year, was scheduled for completion by end-2014.
Sheth Estate International Limited (SEIL), an Indian real estate developer, has further pushed the completion of its $163 million (600 million dirhams) Iris Bay tower, in Business Bay, Dubai, by four months, according to a source close to the project.
"Work commenced on the tower in August; we expect to complete the tower by April 2015," a source told Zawya Projects in an exclusive adding that repair and roof cladding work is ongoing.
In March 2014, Zawya Projects had reported recommencement of work on the tower with the completion set for the year-end.
Al Habtoor Leighton Group, a merger between Al Habtoor Engineering and Gulf Leighton, the operating company of the Leighton Group in the Gulf, is the contractor for the project while Atkins, a global architecture firm, is the designer.
The 32-storey, 170-meter high commercial tower was originally launched in 2007 with completion due in 2009. However, following the global economic downturn, the project was stalled and restarted in 2014.
Earlier in March, Zawya Projects reported the developer cancelled its three projects, Iris Ora and Iris Crystal in Business Bay and Iris Asmar in Culture Village, Dubai, worth $327 million (1.2 billion dirhams).
However, the company still holds the plots as land bank, according to the Zawya report.
© Zawya Projects News 2014
