Memon Investments has started construction work on the Dh145 million ($39.4 million) Champions Tower III in Dubai Sports City (DSC).

The tower is the third and largest development in the Champions Towers series, along with the Dh75 million Champions Tower I and the Dh85 million Champions Tower II.

Memon Investments is a leading Dubai-based property developer and part of the international business conglomerate - the Memon Group of Companies.

Senior company officials including joint managing director, Memon Investments, Rizwan Shaikhani; project development manager, Dubai Sports City, Don Leask; project manager (master planning), Dubai Sports City, Mohammed Shariff; general manager, Stromek Emirates Foundations, Ahmed Al Adl; and manager, projects, Memon Investments, Younan Youssef were present at the ground breaking ceremony.

The event took off after Memon Investments were awarded the Shoring and Excavation contract to Stromek Emirates Foundations (SEF), a subsidiary of M`SHARIE and wholly owned by Dubai Investments.

'Memon Investments has realised yet another goal in the Champions Tower series, and while we are proud of our progress, we also recognise the role played by our partners in helping us achieve our goals and turning our dreams into reality,' said Shaikhani.

A 16-storey freehold residential tower, Champions Tower III was launched in June this year, has a total built-up area of 250,000 square feet and offers a selection of 132 studio, 108 one-bedroom and 16 two-bedroom apartments.TradeArabia News Service