Abu Dhabi, July 15 2006: Tamouh Investments have announced the appointment of China National Overseas Engineering Corporation (COVEC), to execute the construction of Zone B of its AED 5 billion project Marina Square Plot 1, Al Reem Island development. Aimed for completion in 2009, Marina Square covers an area of 13.2 million square feet comprised of 70% residential and 30% commercial districts.

The announcement was made at a press conference held at the Marina Square site following a groundbreaking ceremony to mark the launch of main building construction. The occasion was inaugurated by His Highness Sheikh Tahnoon Bin Zayed Al Nahyan in the presence of H. E. Eng. Salah Al Shamsi, President of the Chamber of Commerce and Industry, H. E. Eng Jumma El Junaiby, Undersecretary Department of Municipalities and Agriculture, Abu Dhabi Municipality, H. E. Zhang Zhijun, Ambassador of the Peoples Republic of China in U.A.E., H. E. Ahmed Darwish Bin Dagher Al Marar, Managing Director of Abu Dhabi Islamic Bank, Mubarak Matar Al Hameeri, Chairman of Royal Group, Joe Ong, CEO of Tamouh Investments, Xiang Xiaokai, Vice Chairman of COVEC and Liu Yuchun, Vice President of COVEC.

"The development of Marina Square will change the skyline of Abu Dhabi and the way the people view high-rise living and lifestyle," said Joe Ong. "Tamouh Investments is all committed to move 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 COVEC are the right people for the job. They were a natural selection for the general contractor because they share our passion for creating a project that is completely innovative," added Ong. 

COVEC, Chinese contractors formerly an enterprise under the Peoples Republic of China's Ministry of Foreign Trade and Economic Corporation is part of the China Railway Engineering Corporation (CREC), maintaining its main business line of international project contracting. The company boasts strength in international project contracting, China-financed foreign-aid projects, investment in overseas businesses, leasing business of large engineering equipment and machinery, overseas labour services and import/export businesses, maintaining a large number of modern business management solutions with multi-language capability and a rich field experience.

"We are proud to have gained the support and confidence of Tamouh Investments for this initiative," said Liu Yuchun. "Working with one of the leading companies in real estate developments in the UAE and the Middle East, this project will grant us the opportunity to play an integral part in one of the most important development projects of the capital, Abu Dhabi."

Planned amenities of Marina Square include a shopping arcade, 8 Cineplex , branded retail outlets, restaurants, a marina, a five star hotel facing the marina, private beach access and sports facilities to name a few. The Marina Square will also host community facilities that will cater to the residents' commercial, medical, spiritual and leisure needs with fully equipped clinics, mosques, parks, daycare centres and convenient outlet supermarkets.

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About Marina Square
Marina Square is the first plot of Al Reem Island, it is the first phase a multi-billion dollar iconic project. Marina Square is a mixed development project that consists of residential and commercial components. With a total land area of 50 acres (202,350 square meters, 2,178,149 square feet), Total projected number of residents in the Marina Square is estimated at 10,000 residents. The total built up area (gross) is 1,218,829 square meters 13,119,485 square feet with a total of 17 towers and 2,880 units for residential ad commercial use. 40% of the Marina Square are landscaped/ open space area and a total of 7,645 covered car parking bays.

For more information please contact:
Jawad Hassan
Multiply Marketing Consultancy
T: 02-645-4665
M: 050-465-7373
F: 02-645-4675
jawad@multiply.ae

© Press Release 2006