Damac awards Riyadh project to Binladin unit
Riyadh, September 16, 2013
Dubai-based real estate developer Damac Properties has awarded the main construction contract in its Riyadh project Damac Esclusiva Luxury Serviced Apartments to Haramain Gate for Construction, a subsidiary of Binladin group.
The SR353 million ($94.1 million) project includes the construction of a luxury serviced apartments tower in the golden strip on King Fahad Road in Riyadh, which will be interiorly designed by the Italian brand Fendi Casa, said a statement.
Damac Esclusiva Luxury Serviced Apartments, a 150-metre high tower overlooking the Kingdom Tower in Riyadh, will provide refined luxurious interiors by the Italian fashion house for more than 100 luxury serviced apartments, it said.
The two companies will also partner on the interiors for exclusive private apartments in Dama Residenze in the Dubai Marina.
The project, which has already reached the first typical residential level after finishing the four podium levels is set to be completed in 2016, said the statement.
It will be managed by the company’s hospitality division, Damac Maison, a five-star hotel and personal service management company to provide the levels of luxury expected by VIP residents.
The apartments will feature fully-equipped kitchens, private parking, apartment servicing facilities, special in-room beauty services and childcare in addition to a kids club. - TradeArabia News Service
More Construction & Real Estate Stories
- Duqm completes airfields infrastructure work
- House prices hit new peak, led by emerging Asia
- Tunelling experts to meet in Dubai
- New mortgage rules to drive UAE property boom
- Sub-Saharan real estate set for big growth
- Cluttons names professional services head
- Hill wins key Doha tower project
- Dubai wins Expo 2020 with HOK masterplan
- UAE property group to invest $54m in Turkey
- Industrial facility rents up in Abu Dhabi