Projects to come up at Emirates City
Star Giga Establishment Limited, a unit of the well-diversified conglomerate Giga Group, will invest Dh320 million to build two high-rise residential towers in Ajman, a top company executive said.
The project is coming up in Ajman at the Emirates City, located conveniently on the Emirates Highway, Amir Pardesi, vice-chairman, Mazyood Giga International FZE, told The Business Weekly.
Star Giga, having 11 plots in the Emirates City to build high-rise towers, has already launched seven projects there already.
Ajman is a very affordable place both for developers and customers and there is a huge market to be tapped there, Pardesi said. "Ajman is not too far from Dubai and there are many people who work in Dubai and like to live there, for it is a quieter and affordable place, providing quality accommodation," he said.
To further cut the costs the Group has started its own contracting company, called Sky Construction, in Ajman that will be overseeing all the projects there. "We have very high qualified and experienced professionals to manage our projects there," he said.
In the UAE, the Group has 16 towers worth Dh2.5 billion, with over 5,000 apartments under construction in Dubai and Ajman. One of its projects, the Dh 400 million Goldcrest Views 1 in Jumeirah Lake Towers is almost ready. "The project which has 450 apartments will be handed over to the customers by mid-November," Pardesi said.
Goldcrest Views is an ultra-modern forty-storey tower and is one of the premier lakeside apartment residences in Dubai. It is recognised as a symbol of luxury and has all the amenities that one would imagine combined with the pleasures of lakeside living.
"To ensure the quality execution of the project the group has tied up with internationally recognised organisations such as Nakheel LLC, WS Atkins, Al Habtoor Engineering Enterprises and Murray & Robert Joint Venture," he added.
The contractors and consultants for this tower were the best available in Dubai at that time and the quality which in this tower is unbelievable, he adds. "Most of the work is over and we are just waiting for electricity connection to complete the remaining work," Pardesi said.
Besides the 16 towers in the UAE, the company is developing 15 towers, worth $1 billion, with nearly 5,000 units of mixed-use units, under the brand name Goldcrest in Pakistan. "The work on all these projects there are in progress and we have a Malaysian contractor overseeing the construction work there," he added.By Vinod Kumar PK
© The Business Weekly 2007
