Eshraq Properties Company, a UAE-headquartered and listed real estate developer, has awarded a contract worth Dh144 million ($39.21 million) to Al Sweidi & Shams Contracting for executing the main works of the Marina Rise project at Al Reem Island, Abu Dhabi.

Khaleefa Al Mehairi, Eshraq board member, said: “We are pleased to award this contract to Al Sweidi & Shams Contracting, a company with a proven track record of quality work and timely delivery. Once complete, the Marina Rise will be an exceptional new addition to the Reem Island community.”

The Marina Rise is strategically located in the Cove District on Al Reem Island, within walking distance of Galleria Mall and Cleveland Clinic Abu Dhabi. The development will comprise a single residential building with two basement levels, ground floor, two podium floors and 24 floors of apartments.

In total, this development will provide 233 residential units (studio, one-, two- and three-bedroom apartments), 271 car-parking spaces and a retail space.

Construction is expected to be completed by the end of 2019.

Eshraq is a leading real estate development company with a capital of Dh2.325 billion ($633 million) and an extensive portfolio of residential, commercial, touristic and other real estate developments. - TradeArabia News Service