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South Korea’s construction firm Ssangyong Engineering & Construction (Ssangyong E&C) has won a $120 million construction contract for Plot 6 luxury residential tower (provisional name) from Dubai-based Wasl.
The project site is in the Al Kifaf area (Plot 6), near Zabeel Park, Dubai, the contractor said in a statement.
The 44-storey luxury residential tower will offer 465 units.
The contract is a follow-up project associated with Wasl One Residences complex, secured by Ssangyong E&C in 2019 and completed in June 2022. The $167 million contract involved the building of two 44-story residential towers in Al Kifaf area (Plot 5)
Since its inception in 1977, Ssangyong E&C has won 185 overseas construction contracts totaling $13 billion in 23 countries, including the Middle East, the US, Japan, and Equatorial Guinea in Africa.
Currently, the contractor, which underwent an ownership change last year from Investment Corporation of Dubai (ICD) to South Korea’s Global SAE-A Group, is involved in 19 overseas construction projects, with a combined worth of $2.5 billion, in eight countries around the globe.
(Writing by P Deol; Editing by Anoop Menon)
