Transemirates to build MAG Tower
Published: 20/5/2005, 07:08 (UAE) By Saifur Rahman, Staff Reporter
Dubai :
Dubai-based property developers Moafaq Al Gaddah (MAG) Group PDD has awarded the main contract to build its MAG 214 Tower to Transemirates Contracting, a Dubai-based construction company.
"This is one of our contracts as far as the construction of freehold properties is concerned," Mohammad Nimer, director of the group, told Gulf News yesterday.
The building will be part of the Jumeirah Lake Towers complex, developed by Nakheel, a Dubai-based property developer.
Seventy-eight towers are being built at the complex in Dubai.
The Group did not disclose the value of the contract, but the project is expected to cost more than Dh200 million.
MAG Group has lined up seven new projects, including residential buildings, commercial towers and logistics facilities.
In March, it started offering units of MAG 218 Tower, a 66-floor freehold residential building at Dubai Marina. The tower is valued at more than Dh350 million.
Dar Al Handasah, who designed the project, has been appointed the designer and supervisor to oversee the smooth construction of the project.
Asteco has been appointed the sales and marketing agent of the project, while Amlak will support buyers with mortgage finance.
"We are also closely working with Dar Al Handasah on MAG 218 Tower. Currently, they are finalising the detailed design, which will go on tendering in August. It could be an open tender," Nimer said.
"Construction will take about two and a half years to complete," he added.
MAG Group is also rolling out two towers at the Dubai International Financial Centre, MAG 224 tower near Khan lake in Sharjah, an office building in Naif-Mussallah area in downtown Dubai, MAG 222 in The Palm, Jebel Ali, and MAG 220 in Dubailand's City of Arabia.
The two towers at the Dubai International Financial Centre will be worth more than Dh400 million.
"The overall value of our development would be in excess of Dh1.5 billion," Nimer said.
Return to MAG 218 Community homepage.
Dubai :
Dubai-based property developers Moafaq Al Gaddah (MAG) Group PDD has awarded the main contract to build its MAG 214 Tower to Transemirates Contracting, a Dubai-based construction company.
"This is one of our contracts as far as the construction of freehold properties is concerned," Mohammad Nimer, director of the group, told Gulf News yesterday.
The building will be part of the Jumeirah Lake Towers complex, developed by Nakheel, a Dubai-based property developer.
Seventy-eight towers are being built at the complex in Dubai.
The Group did not disclose the value of the contract, but the project is expected to cost more than Dh200 million.
MAG Group has lined up seven new projects, including residential buildings, commercial towers and logistics facilities.
In March, it started offering units of MAG 218 Tower, a 66-floor freehold residential building at Dubai Marina. The tower is valued at more than Dh350 million.
Dar Al Handasah, who designed the project, has been appointed the designer and supervisor to oversee the smooth construction of the project.
Asteco has been appointed the sales and marketing agent of the project, while Amlak will support buyers with mortgage finance.
"We are also closely working with Dar Al Handasah on MAG 218 Tower. Currently, they are finalising the detailed design, which will go on tendering in August. It could be an open tender," Nimer said.
"Construction will take about two and a half years to complete," he added.
MAG Group is also rolling out two towers at the Dubai International Financial Centre, MAG 224 tower near Khan lake in Sharjah, an office building in Naif-Mussallah area in downtown Dubai, MAG 222 in The Palm, Jebel Ali, and MAG 220 in Dubailand's City of Arabia.
The two towers at the Dubai International Financial Centre will be worth more than Dh400 million.
"The overall value of our development would be in excess of Dh1.5 billion," Nimer said.
Return to MAG 218 Community homepage.
posted by B.D. at
Friday, July 01, 2005
2 Comments:
Dubai is growing every day and more and more building appear. I like this city, and it attracts many people - tourists for visiting and some of them decide to stay there.
By
Anonymous, at 8/23/2007 7:01 PM
Thanks for the comment. I agree with you. What's nice about the city is not only how is developing in such a modern way, but also that people from so many different places can come and carve out a niche.
By
B.D., at 8/24/2007 3:09 PM
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