Ocean Heights concrete frame work completed

Damac Properties has announced the concrete frame completion of its tallest tower at Dubai Marina with its Ocean Heights development topping out at 84 floors this week.

Ocean Heights is located at the entrance to Dubai Marina on Al Sufouh Road and will undoubtedly become one of the area's most iconic buildings, already towering above all others in the vicinity with its twisting architectural design now clearly visible.

At a topping out ceremony to mark the completion of construction, Chairman of Damac Properties Hussain Sajwani said: 'To think that this magnificent building has been constructed in a little less than two-and-a- half years is a testament to their efforts and I pay tribute to their hard work and accomplishments.

"This has been a turbulent 12 months for everyone involved in real estate and it is therefore all the more impressive that everyone involved has remained so focused and dedicated to the task at hand. We are delighted to be literally ending this year on a high by finishing our tallest building."

Riad Kamal, Chairman of Arabtec, said: "As a contractor we are always proud to be associated with quality projects and it is pleasing to be here to commemorate this milestone event for Damac Properties as we finish the main construction of Ocean Heights," he said.

"A large part of our philosophy at Arabtec is to work hard with developers to build a relationship and to work together as one team on challenging projects like this.

Damac Properties has also recently topped out its Park Towers development at DIFC and altogether has completed eight projects this year. In addition new construction contracts have recently been awarded for further developments at Business Bay in Dubai, Reem Island at Abu Dhabi and also in Egypt.

Sajwani said the progress seen in the past 12 months was all the more significant given the economic circumstances and global financial crisis that continued to affect the worldwide property market.

"There have undoubtedly been some severe challenges but we have stayed focused and committed to our construction and delivery plans," he said.

"We have continued to award contracts and make progress at our main sites and while we have reviewed our construction plans we have not cancelled any projects in Dubai which is testament to the strength and solidity of this business.

"We remain committed to our intention of delivering of 25 towers by the end of 2011."

Currently Damac Properties has 11,500 units under construction and has delivered 3,029. By end2010, it is expected to hand over a further 7,100 units in GCC.

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