Select Group, a leading real estate developer in the UAE, has awarded a construction contract worth about $296 million for its Peninsula Four, The Plaza development to Al Basti & Muktha (ABM).
Peninsula Four, The Plaza is an key project within the waterfront community Peninsula, which promises to redefine luxury living with its architectural brilliance, breathtaking views and world-class amenities.
Situated in a prime location in Business Bay, this exclusive development embodies Select Group's commitment to delivering exceptional real estate projects. Peninsula Four, The Plaza has a built-up area of 2,256,761 sq ft, accommodating 1,025 premium units.
The preliminary work, encompassing excavation, shoring, and piling, on the 320,000 sq ft site has been concluded in readiness for Al Basti & Muktha to commence the primary construction phase.
This contract completes the start all construction phases of the Peninsula development, marking a pivotal stage in this mega development, Select Group said.
ABM is a renowned name in the construction industry in the UAE since 1974 and was selected due to its reputation for delivering high-quality projects. ABM brings extensive expertise and a commitment to craftsmanship that aligns perfectly with Select Group's vision, a statement said.
"We are thrilled to collaborate with Al Basti & Muktha on the construction of Peninsula Four, The Plaza," said Rahail Aslam, Founder and Group CEO at Select Group. "Their reputation for delivering projects of the highest quality matches our commitment to excellence. We are confident that together, we will create an iconic development that will set new standards in luxury waterfront living."
Tushar Pathak, Chairman of ABM, said: "Partnering with Select Group on this prestigious property development is a testament to our commitment to delivering excellence in construction. We are excited to be part of this ambitious project, and look forward to turning this remarkable vision into reality."
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