ASGC to deliver second part of Dubai Onyx project
Firm appointed by Ishraqah to build three-tower complex at The Greens
The freehold scheme consists of three towers that will include a 210-room business hotel, a commercial tower and a mixed-use tower. There will also be a four-level podium containing shops and restaurants.
It will have a total built-up area of 2m ft2 and will be built on the edge of The Greens residential complex, next to the existing Emaar Business Park.
The project was initially launched in 2007 as a $490m (AED1.8bn) scheme between developer Ishraqah and Saudi Arabian company Zahran with an initial completion date set of 2010.
However, the project was hit by the downturn in Dubai's property market.
Ishraqah CEO Ammar Sweis said the award of the second part of the project to ASGC represented a key milestone towards its delivery.
He said: “The Onyx is a special project in a prime location and we are delighted to proceed with the second phase of the project along with ASGC to provide a high quality project that exceeds our investors' expectations”.
Al Shafar General Contracting CEO Bishoy Azmy added: "We are happy to co-operate with the esteemed Ishraqah in this prestigious project.
"The Onyx represents our third project win in the past few months.
"Dubai’s construction sector is growing and ASGC also has growth plans as we expect new awards in the near future in both the building and Infrastructure sectors."