Bonyan International Investment Group, a leading real estate company in Dubai, has awarded the contract for the construction of Dh350 million ($95 million) ‘Dubai Gate 2’ project to Transemirates Contracting (TEC), a major construction company in the Gulf region.

The developer’s 35-storey residential development will offer 442 luxury apartments and 7 retail areas within Jumeirah Lakes Towers, a dynamic waterfront community situated adjacent to Sheikh Zayed Road.

The awarding of the contract follows the resolution of a series of issues concerning the delay by the previous contractor in the construction phases, which the new contractor will be addressing, in line with the developer’s commitment to deliver the project by 2010, said a company official.

Highlighting Bonyan’s firm commitment towards construction of the project despite the delays and setbacks within the project, a formal contract was signed by Bonyan International Investment Group chairman Abdullah Atatreh and Transemirates Contracting managing director Yousef Al Mulla.

The new contractor has expressed its dedication to complete the luxury project, which will provide stylish one- two- and three bedroom apartments with breathtaking views of the lakes and lush green gardens.

‘Dubai Gate 2’ will also feature a nautical blue and white façade to complement the aura of the high profile waterfront master development and will offer health and fitness facilities, including fitness centres, Jacuzzi and temperature controlled swimming pool.

Further, the developer recently announced that it has opened an escrow account for the project with Emirates Islamic Bank, in accordance with regulations set by the Dubai Land Department and Real Estate Regulatory Agency.

“As we partner with Transemirates Contracting who will take the helm in the construction of ‘Dubai Gate 2’, we reiterate our commitment to the delivery of the project and the upholding of the level of quality, which we maintain across all our developments,” said Atatreh.

“We have the highest confidence that this partnership will help us achieve our utmost goal, which is to meet the expectations of our clients in terms of deadlines and construction standards,” he added.
   
Headquartered in Dubai and with branch offices in Sharjah, Abu Dhabi and Al Ain, TEC has established a strong repute in the regional market due to its involvement with a number of prestigious commercial and residential projects such as Mercato Mall, Marina Crown, MAG 214 (Jumeirah Lake Tower) and Al Khaili Tower.

The contractor will be deploying adequate number of workers, in addition to engineering, administration, safety and supporting staff, who will be working towards the delivery of the project.

“We are proud to be a part of a prestigious project and we will make sure that our resources are optimised to meet the high quality of work that is expected of us. We will build on our reputation as a company that emphasizes quality workmanship and on-time delivery to satisfy high-profile clients such as Bonyan,” Al Mulla added.

In addition to its Dubai-based developments, Bonyan Group has most recently launched the ‘Eye of Ajman’ project, an Dh3.5 billion community project, which marks the developer’s inaugural venture in the emirate.-TradeArabia News Service