Damac awards US$ 54 mn Merano Tower in Business Bay contract

Posted on 2nd March 2017

Damac Properties, a leading luxury real estate developer in the region, has awarded a contract worth Dh200 million ($54.4 million) for implementing the main works at its residential project Merano Tower in Business Bay, Dubai.

Pic courtesy: Tradearabia news report Pic courtesy: Tradearabia

A 29-storey residential property, Merano Tower, features a basement level, ground floor and three podiums with 26 floors of residential apartments varying from studios, to one-, two-, and three-bedrooms, with units starting at Dh575,000 ($156,504) onwards, said a statement from Damac.

Following the completion of the substructure works at Merano Tower, the awarded contract covers the project’s main works package. The contract has been awarded to Commodore Contracting Company.

Excavation works are in progress up to raft level and the de-watering system is connected, it stated.

Mohammed Tahaineh, senior VP (Commercial) Damac Properties, said: "We are pleased with the contractors we have appointed and which represent a significant portion of the construction of Merano Tower, where we continue to make steady progress."

"We strive to appoint leading contractors and consultants in the industry with a proven track record in terms of quality of work and efficiency on delivery times," he added.

A paradigm of urban architecture and design, Merano Tower features a swimming pool, a state-of-the-art gymnasium and ample parking space, according to Tradearabia news report.

It also provides direct access to Dubai’s business district, where residents can easily stay connected to the city and its attractions with two metro stations and two major highways right at its doorstep.

Once completed in 2019, the tower will provide spectacular views of the prestigious platinum square kilometre of the Burj area in Downtown Dubai, it added.

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