Abu Dhabi-based pile foundation major kicks off work on the pioneering residential project at Nakheel's Jumeirah Lake Towers

Dubai, September 13 2004:  In a significant move, kicking off development of its 36-storey twin-tower freehold residential project, Saba Tower 2&3 (Saba Twin Towers), which will come up at the Jumeirah Lake Towers Community promoted by Nakheel, the Dubai-based realty major Saba Group today announced awarding the piling and foundation contract to Abu Dhabi-based Dutch Foundation Co. LLC.

Revealing the award of the contract to the piling foundation company which has a trail of proven track record in the regional construction industry, a top official of the Saba Group said that mobilization at the work area was already at an advanced stage, laying the ground for construction of Dubai's first freehold twin tower residential project.

Mr. Behrouz Javaheri, Chairman, Saba Group said: "We have chosen Dutch Foundation Co because of the company's unmatched quality track record in piling and foundation work in the UAE as well as across the GCC. We wanted best-of-the-breed partnerships to lead the Saba Twin Tower development to ensure that the project will stand above other similar developments."

He said Dutch Foundation was chosen after a round of strict evaluation and assessment in which many pile foundation majors short listed earlier were scrutinized for their quality, experience and capability in executing mega projects like the Saba Tower development.

"Having worked with Dutch Foundation earlier this year on the Saba Office Tower project, we are convinced that Dutch Foundation is the ideal partner for this project too, which in its spirit as well as execution is a trendsetter within the freehold property development sector in Dubai," Mr. Javaheri said.

Saba Twin Towers is strategically located, offering a compelling rationale to investors who are keen to own property in Dubai. "Being close to landmark developments such as The Palm Jumeirah, Dubai Marina and the Dubai Technology & Media Free Zone, adds tremendous value to the project," Mr. Javaheri said.

Located between Interchanges 5 and 6 on the Sheikh Zayed Road, Saba Twin Towers at the Jumeirah Lake Towers community, will be spread over an area of 800,000 square feet, including a retail component of 31,000 square feet.

Saba Group had recently announced its intention to invest a total of AED1.2 billion in Dubai's freehold property sector in the next two years. "Our investments in Nakheel's Jumeirah Lake Towers, the contemporary community encompassing residential, retail and office outlets so far is to the tune of AED570 million, and the response from investors to our projects has been tremendous," Mr. Javaheri said.

Commenting on bagging the piling and foundation contract for the landmark Saba Tower offered to UAE & GCC Nationals as well as expatriates, Mr. Salim Khoury, General Manager, Dutch Foundation Co. said: "We consider it as an honour to be part of the pioneering Saba Twin Tower development. Over the last 15 years, thanks to our immense and sound experience in foundation engineering and soil mechanics, we have built a good reputation executing 800 projects in the UAE alone."

He said the company deploys the most modern equipment and technology and cited the use of latest high-tech rig machines, which have been used for big and prestigious projects like Interchange IP-69 in Abu Dhabi, giant LNG tanks in Raslaffan among others. The company came into being in 1989 and has now branches in Dubai, Qatar, Sharjah and Sultanate of Oman.

The reputed UK-based architectural and design firm, RMJM are the primary consultants for the Saba Twin Tower project which will offer Studio, one, two, three and four bed-room penthouse apartments, with all studios, one and two-bedroom units being fully furnished.

The amenities on offer at Saba Twin Towers include a roof top caf terrace, temperature controlled swimming pool and children's pool, high speed elevators, professionally landscaped leisure areas and 24-hour security and facilities management services.

-Ends- 

Editors Note:
About Saba Real Estate
Saba Group brings together an alliance of highly skilled, knowledgeable and experienced real estate development, architecture & interior design, finance, and analysis professionals with extensive experience in the development of several prestigious real-estate projects across the region. The company's expertise includes commercial and residential real estate, property management, design build and construction management services. The collective experience and expertise of the Saba Group team enables it to develop prime commercial and residential locations across the region.

For more information please contact:
Arun Rangachary /Ali Smadi
Percept Profile Gulf
PO Box: 72425,
Dubai
UAE
Tel: +9714-344 6373;
Fax: +9714-342 9158
E-Mail: info@perceptprofilegulf.com

© Press Release 2004