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United Arab Emirates : AFC secures Dubai World Trade Centre project deal
Publish Date : 06-Jan-2017
Dubai World Trade Centre has offered a Dh725-million ($197 million) contract to Al Futtaim Carillion (AFC) to deliver Phase 1A6 of One Central, a major integrated property development sited between the current Dubai International Convention and Exhibition Centre and Emirates Towers in the heart of the central business district of the city.
The latest phase of One Central's built-up area is 182,500 sq m. It is comprised of two Grade A office buildings of 12 and 8 storeys.
The contract will start in January 2017 and is slated for full completion by the end of 2018.
AFC has already concluded a previous Phase 1A2 of this development, which is presently being leased and is now delivering the contact for Phase 1A5, which was offered in October 2015.
Wit this this latest award, the general value of AFC's contracts for the One Central development reaches up to Dh1.8 billion ($489 million).
Carillion chief executive Richard Howson stated: "We are delighted to have been selected for Phase 1A6 which is the third phase of the One Central development, where we continue to see good opportunities coming to market for which our capabilities and reputation for delivering to high standards of quality, safety and reliability are important to customers. We look forward to continuing our close relationship with Dubai World Trade Centre to deliver this important development," he added.
Gurjit Singh, the senior vice president (real estate), DWTC, added: "We are pleased to continue working with AFC, which has successfully delivered the Phase 1 Offices that are now operational and almost fully leased. Our ongoing relationship with the company will establish Grade A office properties of a world-class standard in Dubai's commercial corridor. These high quality, flexible commercial offerings provide a compelling value proposition in Dubai's central business district."
