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31 May 2023

Al Mazaya awards €50m contract

By Staff Writer

Al Mazaya Holding has awarded a €50 million (Dh279m) contract for the procurement and installation of furniture and interior materials in its Sky Gardens project to Fendi Casa.


“Owned by First Dubai For Real Estate Development, an Al Mazaya Subsidiary, Sky Gardens has attracted wide interest among the business community since its launch, due to its strategic location,” said a statement.


Situated near the gate of the DIFC and facing Emirates Financial Towers, the Sky Gardens will be the first residential tower to be finished in a district that will be the focal point for economic activity in the region, attracting many investment banks and financial intermediaries from around the world.


“The project offers the opportunity for anyone seeking a residence in the heart of a vibrant business community,” Khalid Esbaitah, Executive Manager and CEO of Al Mazaya Holding, said in a statement.


Al Mazaya is planning to offer more funding options and provide its investors with better opportunities to own residential unites at Sky Gardens with the best available funding facilities.


The company is studying a number of funding packages, submitted by key regional financial institutions, to select the best for its clients.


“Sky Gardens will be the first project to be completed at DIFC and will stand as an icon that blends functionality with contemporary, high-tech design and style.


Units at Sky Gardens will be home to elite businessmen and their families and will enable them to enjoy a lifestyle of leisure, luxury and tranquility,” the statement said.

The project comprises of a 43-storey residential tower covering an area of 5990 square metres.


The designer of the project hails from one of the world’s most prominent architectural bureaus – the London-based Gensler. The project contains 575 residential units varying in size from studios, two- and three-bedroom apartments to duplex apartments and penthouses.