Danube awards $104m worth of construction contracts in 2017
Danube Properties has awarded five construction related contracts with a combined value of more than $104m (AED381m) in 2017 as part of its $778m (AED2.84bn) portfolio
Danube Properties has awarded five construction related contracts with a combined value of more than $104m (AED381m) in 2017 as part of its $778m (AED2.84bn) portfolio.
The contracts include a $60m (AED221m) deal recently awarded to Naresco Contracting LLC to deliver Miraclz Tower near Miracle Gardens at Arjan that will host 599 units including 591 apartments. The 28-month contract will see the project delivered by the end of 2019.
Naresco is now in the process of completing Glitz Residence 3 which will be handed over in a few weeks’ time.
Danube Properties has also awarded a $40m (AED146m), 17-month contract for the main construction package of the Resortz project to Dubai Walls Construction. The project will be handed over by the second quarter of 2019.
Resortz will offer 444 units including 419 apartments, and 25 retail outlets, all within a landscaped environment.
The property developer awarded a $2.7m (AED10m) piling and shoring contract to Atlas Foundation for Miraclz Tower and a further $1m (AED4m) piling and shoring contract for Resortz project.
Atif Rahman, director and partner of Danube Properties, said: “These construction contracts reflects our deep commitment to our largest stakeholders – our valuable property buyers and investors – who have put their trust and hard-earned life savings in our projects to receive the keys to their dream homes.
Danube Properties, part of Dubai-based diversified conglomerate Danube Group, has launched nine residential projects, with two already delivered, two in the process of delivery, four at various stages of construction, and one in tendering stage.