UAE's Nshama reveals value of main contract for UNA project
The developer told Construction Week in April that it had awarded the main contract to ECC to lead the design and construction of the project
The value of a contract awarded to UAE-based Engineering Contracting Company (ECC) for Nshama’s UNA mixed-use development has been revealed.
The developer told Construction Week in April that it had awarded the main contract to ECC to lead the design and construction of the UNA apartments in Town Square Dubai.
The contract, which is valued at $84m (AED310m), is the second deal awarded to the contractor by Nshama, following its appointment to the Rawda Apartments project’.
According to an earlier statement by ECC, the project will be developed over a duration of 25 months, and will require design and construction of the G+2P+9 Storey building, as well as a mixed-use development with numerous retail areas on the ground floor, 192 studios, and 764 one-bedroom apartments.
The main consultant on the project is Al Wasl Al Jadeed Consultants.
Commenting on the project, Fred Durie, CEO, Nshama: “ECC has a strong track-record in project development and we will draw on their strengths for UNA, the path-breaking co-living community that assures a ‘live life at your price’ value proposition.”
Kareem Farah, CEO, ECC, said: “We always strive to provide our clients with leading, dynamic solutions to deliver projects of the highest quality. We are ready and excited for this project and look forward to continuing our relationship with Nshama Properties on upcoming developments.”
He added: “There are over 10,000 urban development projects underway throughout the region with the UAE accounting for over half of the active projects across all segments compared to the rest of the region. With urban development accounting for a large proportion of the projects, there is a clear need for industry players to differentiate their offering and diversify to remain competitive in our challenging market.”
UNA, a mixed-use development introducing the first ‘co-living and co-working concept’ in Dubai, is scheduled to complete by the end of 2020.