RAQ Construction seals AED190 million contract
Danube Properties awards deal for Bayz project in Dubai’s Business Bay
RAQ Construction has been awarded a AED190 million deal by Danube Properties for the main construction works of the Bayz development in Dubai’s Business Bay.
The AED450 million, 29-storey project, which was launched in May 2017, offers 456 fully-furnished apartments, ranging from studio, one and two-bedroom apartments.
“We have so far awarded contracts for ten out of 11 projects launched so far. The awarding of the construction contract reflects our determination to deliver projects on time. It also strengthens our reputation as a developer that is committed to on-time construction and delivery,” Rizwan Sajan, founder and chairman of the Danube Group said.
Located on a plot on Al Khail Road, the project is scheduled for delivery in 2021.
Atif Rahman, director and partner of Danube Properties, said: “The latest construction contract raises our construction contract value to Dh1.59 billion across ten projects and reflects the character and reputation of Danube Properties. Our delivery-to-launch ratio is one of the best in the real estate development industry in the GCC and I would want to maintain that.”
Established in 2013, RAQ is a pre-designed, design and build and steel-structure turnkey main contractor specializing in executing construction projects of various categories.
Rami Al Qaisi, managing director of RAQ Construction LLC, said: “We are very pleased to partner with Danube Properties in developing Bayz Tower. As a developer, Danube Properties is very particular in every aspect of construction activities including choice of material, quality of construction, finishing, facilities, amenities and timely delivery. We have gone through one of the most stringent contracting process and I am pleased to say, we have a shared vision in Bayz – to offer the best homes to the customers.”