Competition for Reem Island

Al Habtoor Engineering and a joint venture of Samsung and Arabtec are in the running for the contract to build a six-tower project at Shams Abu Dhabi on Reem Island.

NEWS, Projects

Al Habtoor Engineering and a joint venture of Samsung and Arabtec are in the running for the contract to build a six-tower project at Shams Abu Dhabi on Reem Island.

The construction contract for First Abu Dhabi, which is being developed by Kuwait's National Ranges Company 'Mayadeen', is believed to be worth around US $550 million (AED 2 billion).

According to a source close to the development, the project will be made up of four tall towers - each around 54 storeys - and two smaller ones of around seven storeys.

Bids were submitted around three months ago, and the contract is expected to be awarded early in 2008. The project manager is Turner Construction, while the consultant is RW Armstrong.

Mayadeen bought two plots of land at the Shams Abu Dhabi development across an area of 21,321m2 earlier this year.

The plots will be developed for residential and commercial use.

The company, which is part of Gulf Investment House, has also invested in real estate projects at Emaar Business Park and Dubai Healthcare City.

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