Senior sources at the Fortune Group, who did not wish to be named, said yesterday that the developer will announce the main contractor for the Burj Al Alam project by the February-end. Samsung Engineering, Besix and Arabtec are believed to be in the final race for the contract though the final value has not been revealed.
Meanwhile, Syed Muhammad Ali, CEO of Fortune Group told Emirates Business in an exclusive interview that the main contractor is expected to take over the project by March-end or first week of April.
Middle East Foundations is currently carrying out piling and foundations work on the 510m-high tower, which is the second highest building in Dubai after the Burj Dubai. "It is also the tallest commercial tower in the world," said Ali. "We are in the final stages of finalising the contract but cannot reveal the main contractor due to confidentiality reasons," he said.
The chief executive said the project will be completed by 2012 from the original 2009 date, due to delays in design approvals and land permission issues. The developer has also launched a construction-based payment scheme.