Memon Investments, a leading Dubai-based property developer has awarded an Dh84.5 million ($23 million) contract to Al Jassmy Contracting Company for the construction of the ‘Champions Tower IV,' a 20-storey residential tower.

The announcement follows the commencement of the tower’s Raft works, with the main contractor committing to complete the Dh450 million Dubai Sports City project within a period of 22 months.

Designed by Adnan Saffarini Office, ‘Champions Tower IV’ will house 266 units comprising 114 studios, 133 one-bedroom and 19 two-bedroom apartments.

The agreement was signed by Rizwan Shaikhani, joint managing director, Memon Investments and Momen Yousuf Al Jassmy, deputy managing director, Al Jassmy Contracting Company.

Prior to the awarding of the main contract, the developer has awarded an Dh1.8 million contract to Stromek Emirates Foundation to undertake the shoring and excavation, while ETA Melco has been chosen to install high-speed elevator within the tower.

“Our primary aim is to maintain a consistently high level of quality and to make this the standard for all our subsequent projects,” said Shaikhani.

'In line with this goal, we have made it part of our strategy to partner with credible and trustworthy industry leaders to lend us their expertise and help us achieve the targets we have set for our projects.'

'For ‘Champions Tower IV’ we have assembled a formidable team of engineers and project managers who will be working hand in hand to provide our customers the quality and convenience we have committed to them,' he stated.

Established in 1968, Al Jassmy Contracting has undertaken multi-million projects in the region, some of which are for various government sectors.

It has established a strong repute with the construction industry, having worked on several high profile commercial and residential projects as well as majestic mosques.

'Achieving highest quality standard throughout our clients’ satisfaction is our mission, and our partnership with Memon Investments has opened up an enormous opportunity for us to impart our industry expertise and become a part of a prestigious and much-anticipated project,' said Al Jassmy.

'We are confident that through our highly systematic processes and our close collaboration with Memon Investments we will be able to hit the deadline set for this project while satisfying all the quality benchmarks that are expected from projects of this calibre,' he added.-TradeArabia News Service