The Gate Towers 6 Billion AED development contract awarded to Arabian Construction Company

Sorouh Real Estate PJSC and Tameer Holding Investment LLC today announced the award of a AED 6.2 Billion contract to Arabian Construction Company (ACC) to build The Gate Towers, a joint venture project, situated at the entrance of Sorouh’s flagship project, SHAMS Abu Dhabi, on Al Reem Island.

This new contract will see ACC construct six of the eight towers that make up The Gate District, covering a construction area of 1.1 million square metres. Piling work is scheduled to start immediately and construction of the towers will begin January 2009, to be delivered in phases over the next four years. The Gate Towers will be a mix of residential, commercial, retail, serviced apartments and a hotel.

Mounir Haidar, Chief Executive Officer, Sorouh, stated:

“Sorouh is pleased to announce its continued partnership with ACC. As a leading real estate developer in the United Arab Emirates, Sorouh partners with companies that reflect our own professionalism and commitment to creating innovative real estate projects. We are looking forward to working with ACC on this phase of our exciting development.”

Dr. Abdallah Shaaban, Managing Director, Tameer Abu Dhabi, added:

“Tameer has an excellent relationship with ACC. This partnership adds value to our project with Sorouh, creating a spirit of excellence and efficiency where all three parties work together to produce an innovative and exciting development for Abu Dhabi.”

The contract is seen as a strategic partnership between Sorouh, Tameer and ACC, and will see all parties sharing roles and responsibilities such as procurement and engineering.

ACC’s Managing Director Hamed Mikati said the award of this contract shows that ACC has once again gained the trust of Sorouh.

“We are looking forward to completing this unique project which is set to change Reem Island’s ever growing skyline,” he said. “We have been active in the UAE for over 40 years and are very proud to have contributed in the growth of the country.

“We are very proud to extend our relationship with Sorouh and Tameer and we thank them for their confidence in ACC.”

SHAMS Abu Dhabi will be a completely new self-sustaining city designed around canals and parks which integrates world-class master planning practices and extends the lush green of Abu Dhabi’s landscape. In addition to the Gate District, Shams Abu Dhabi will feature several other unique projects including Central Park, Sky Tower, Sun Tower and Marina, and the Gate District.

ACC is currently building the Sky and Sun Towers in Abu-Dhabi for Sorouh, as well as Princess, the world’s tallest residential tower (414m high), and Elite Towers in Dubai for Tameer.

Zawya