|18 August, 2019

Abu Dhabi's Imkan awards main contract for its Pixel project to China's CNTC

Imkan-CNTC agreements mirrors the UAE capital’s support for the China’s Belt and Road Initiative (BRI)

Imkan makers district masterplan. Image used for illustrative purpose.

Imkan makers district masterplan. Image used for illustrative purpose.

Imkan/Handout via Thomson Reuters Zawya

18 August 2019
Abu Dhabi-based developer Imkan announced on Sunday that it has appointed Chinese construction company CNTC as the main contractor for its seven-tower Pixel project, located within the 18-hectare Makers District waterfront community on Reem Island.

Beijing-headquartered CNTC is among China's largest construction conglomerates with a presence in over 35 countries and 120 cities across the globe.

Imkan said in a press statement that work on the towers would begin immediately and the project is scheduled for full completion in the fourth quarter of 2021.

The value of the contract wasn't disclosed.

It said the development, designed by Dutch architectural firm MVRDV , has been structured to surround a pedestrianised plaza and will be made up of 525 residential units as well as F&B, retail, public areas, co-working spaces and creative hubs catering to residents and visitors.

Imkan CEO Walid El-Hindi said in the statement that agreement between the two companies "is a reflection of the close relationship the UAE shares with China," noting that "Abu Dhabi is a hub for global trade and the UAE is set to play a pivotal role in the China Belt and Road Initiative."

(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)


Our Standards: The Thomson Reuters Trust Principles

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

For more data, analytics, tools and news on projects in the Middle East visit the Thomson Reuters Projects portal

© Thomson Reuters Projects News 2019

More From Business