Al Fajer Properties (AFP) yesterday announced that it recently awarded a Dh1.2 billion contract for phase 2 of its Jumeirah Business Center (JBC) Project to Al Ahmadiah Contracting & Trading.
Phase 2 consists of Towers JBC 6 as well as the Ebony and Ivory Towers and is located within the Jumeirah Lakes Towers (JLT). Construction mobilisation on the second phase is set to commence immediately as green design building approvals are currently in the final stages.
The contract was inked on April 9 and is part of AFP's new management team strategy, since the completion of its Dh3.2bn restructuring announced in February this year.
Ensuring compliance to Dubai's green building code and Jafza regulations, a green consultant was appointed in early January this year. The President of Al Fajer Properties, Sheikh Maktoum bin Hasher Juma Al Maktoum, said: "We are happy that we are in our final stages of concluding the green design features mandated by Jafza, which will be beneficial to the environment and will also translate into a reduction in operating costs to our end users. With the completion of major infrastructure projects slated to come online within the next 6-12 months, we are confident that the intrinsic value created by these projects will soon begin to materialise, not only increasing the standard of living and quality of life here, but crystallising the overall value created over the last eight years of Dubai's unprecedented growth."
Added SK Joshi, CEO of Al Ahmadiah Contracting: "We are delighted to have won the contract for Phase 2. With the experience gained from phase 1, we are confident that the pace of our construction will proceed in record time, as our construction team is already familiar with this design. We are expecting to reach the 10th floor early next year as all shoring and piling works have already been completed on these plots."
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