Tameer Towers contract signed

Real estate developers Tameer and Sorouh have finalised the agreement with the joint venture that includes the Abu Dhabi-based Al Habtoor Engineering, Murray & Roberts, and Al Rajihi Construction.

The two companies had earlier announced the formation of an alliance for the construction of their landmark Tameer towers on a fast-growing island very close to the capital's coastline.

"The agreement is for the construction of the landmark Tameer Towers in Abu Dhabi at a cost of Dh6 billion, bringing the total cost of the project to Dh8bn," the two companies said in a joint statement on Tuesday.

"This represents the accomplishment of a major milestone in the Tameer Towers project, a joint venture between Tameer and Sorouh," it said.

The new partners would join the Tameer-Sorouh venture in an alliance that will include the architect Gensler from London, along with other famous engineers and designers and the project manager Hill International.

Tameer Towers was launched in October 2007 and has since been considered one of Abu Dhabi's landmark developments.

The project in Shams Abu Dhabi on Reem Island just a few hundreds metres off the eastern flank of the capital consists of four residential towers, a commercial tower, stepped villas and townhouses, a seven-star-luxury-business hotel, a vibrant canal promenade and a private marina.

The centrepiece of Tameer Towers is the 73-storey diamond-shaped Commercial Tower.

"The alliance is another pioneer concept adopted by Tameer in which all the partners act as one with the main purpose of constructing the project with the utmost attention," said Abdallah Shaaban, managing director of Tameer Abu Dhabi. "This alliance has confirmed the delivery for the residential part in June 2011 and the commercial portion by 2011-end."