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NewswireTODAY - /newswire/ -
Dubai, UAE, United Arab Emirates, 2005/12/21 - ACC to build residential components of the Porto Arabia district in Qatar’s largest freehold development. The project is worth USD 170 million.
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Arabian Construction Company (ACC) has received a Letter of Intent worth USD 170 million to construct the residential components on two parcels of land in Pearl-Qatar. ACC has been contracted by United Development Company (UDC), the promoters of Qatar’s largest freehold project, to build residential towers, townhouses and retail units in the Porto Arabia district.
ACC is an industry pioneer and has been in the region since 1967. The company has been involved with commercial, residential and industrial projects in the Middle East and GCC, and has executed various prestigious projects. ACC has been involved with landmark projects such as the Etisalat headquarters in Abu Dhabi, Rose Tower (333m height), Al Mas Tower (360m height) and the new Park Place Tower on Sheikh Zayed Road in Dubai. ACC has also been contracted to build several other residential, commercial and hotel towers in Qatar.
“ACC has been a market leader in quality construction for the past 38 years. We are honored to have received this momentous contract from UDC for the Porto Arabia residential buildings in Pearl-Qatar. There is tremendous growth in the GCC, and the level of development and technologically advanced construction practices being implemented here are a testament to the changes that have occurred in the GCC over the past 30 years,” stated Mr. Rasheed Mikati, Director of ACC.
The two parcels of land are directly owned by UDC, which has commissioned QACC, the Qatari subsidiary of ACC, to execute a mixed-use development incorporating commercial and residential elements in the downtown of the Pearl-Qatar development. The project offers a built-up area of 186,000 square meters. The construction will include 26-storey residential towers with 4-level townhouse and landscaping.
“Through QACC and our industry partners, we are also involved in several other projects in Qatar and we hope to increase our market share in the country” Mr. Mikati further commented.
Construction bids were invited by UDC in July 2005. ACC was selected to receive the construction contract beginning December 2005. The construction on the towers will begin in January 2006, and expected duration of the project is 20 months.
The consultant on the project is Calliston International/KEO International while the project managers are Dar Al Handasah (Shair and Partners). Pearl-Qatar is a man-made island freehold development being reclaimed off the coast of Doha, Qatar. The total estimated value of the development is USD 2.5 billion.
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