Abu Dhabi, 19 April 2009 (WAM) - International Capital Trading LLC (ICT), a leading Abu Dhabi-based investment and development company has announced that it has awarded an AED 260 million contract to Pivot Engineering & General Contracting Co WLL for the construction of a residential project in Mohammed Bin Zayed City, Abu Dhabi.
The project will encompass 170 three and four bedroom villas, as well as a broad range of amenities for the residents including a clubhouse and swimming pool, two playgrounds, a mosque, a multi-purpose hall, parking and landscaped public areas. "This is a key project for ICT and reinforces our commitment to the economic development of our Emirate" said Haytham D. Haidar, Chief Operating Officer of ICT. "It reaffirms our belief in the core fundamentals of the Abu Dhabi Economy. Despite the challenges of the current global situation, we are confident that the long-term rental market in Abu Dhabi is robust, providing good returns to investors."Haidar explained that locally based Pivot was selected because of its track record in the construction of sizeable projects in Abu Dhabi, and the companys consistent ability to deliver within commercial parameters. ICT is an active partner in the emirates development, working with the Abu Dhabi Urban Planning Council and other government entities. "Our work with Urban Planning Council is vital as it ensures that everything we do is in line with Plan Abu Dhabi 2030 guidelines and that we deliver quality, sustainable and environmentally friendly residential units to the inhabitants and the community," said HaidarSustainability is a key principle for all ICTs projects, explained Haidar, adding that every initiative is carefully evaluated to ensure that it meets the highest standards of conservation, sustainability and efficiency.Copyright Emirates News Agency (WAM) 2009.
