Abu Dhabi: Tamouh Investments has awarded Malaysia's IJM Consortium a Dh1.3 billion mixed-development contract to construct Zone C in the Marina Square Plot 1 on Al Reem Island, a senior company official said.
Tamouh is one of three developers involved in Abu Dhabi's Al Reem Island project. "The development of Zone C of the Marina Square will change the skyline of Abu Dhabi and the way people view high-rise living and lifestyle," said Joe Ong, CEO of Tamouh Investments.
"Tamouh Investments is committed to moving forward to the construction phase of Marina Square.
Assembling a qualified professional team is vital to the success of the project, and we are confident that the IJM Consortium is the right contractor for the job," Ong said at the ground-breaking ceremony to mark the launch of the construction.
Tamouh is developing 60 per cent of Al Reem Island. Contracts for Zone A and B have already been awarded. The entire Marina Square Plot is being developed at a cost of Dh5 billion. "Construction has just begun and project completion is set for first quarter of 2009," Ong said.
Both nationals and non-nationals can buy land at Marina Square, according to Abu Dhabi property law.
Planned amenities of Zone C of the Marina Square include five residential towers, parking space for 2,000 cars, a hypermarket and seven large luxury villas.
Group of leading market-listed companies
The IJM Consortium is a group of leading stock market listed engineering and construction companies from Malaysia that has recently entered the construction market in Abu Dhabi.
The IJM group comprises IJM Construction, Sunway Construction, Zelan Holdings and LFE Engineering.
The consortium's core competence lies in international projects contracting, investment in overseas businesses, maintaining a large number of modem business management solutions with multi-language capability and a rich field experience, said Joe Ong, chief executive officer of Tamouh Investments.
By Stanley Carvalho
© Gulf News 2006