Dubai's first PPP initiative: Project with automated car park launched
Dubai Courts and Park Line, a special purpose company set up by NGP, a KBW Investments company, and ITNL Infrastructure Developers, a subsidiary of IL&FS Transportation Networks Limited (ITNL), India, have signed the first Public Private Partnership (PPP) initiative announced since launching of the PPP Law in November 2015 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The Project aims to develop one of the world’s largest automated car park facility within the existing premises of the Dubai Courts.
The Dubai Supreme Court, having a built up area of 55,742 square meters, will include development of a new Supreme Court building, comprising 4,420 square meter that will house over 50 Supreme Court Judges, 18,600 square meters of office space and 3,154 square meters of retail.
The project, proposed to be located on part of the existing Court’s premise, is scheduled for completion in 30 months.
The 30-year concession agreement for the project was signed by Taresh Eid Mohammad Al Mansouri, Director General of Dubai Courts, Ravi Sreehari, Chief Executive officer for the Middle East and Africa region of ITNL, and Ahmed Alkhoshaibi, Group CEO of KBW Investments and Managing Director of NGP Limited on Wednesday.
Project consultant AREX's Chairman Yousuf Abdullatif K Al Muhaideb and developer's core Management team, Johnny Bnaity, Shailendra Kaushik and Bipin Tavarool, were also present.
Al Mansouri said: “The Supreme Court project was launched with the blessing of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai and upon the directives of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Chairman of the Judicial Council of Dubai, to provide a building servicing the Dubai Supreme Court as a judicial body and as an administrative body. The building shall provide a variety of features, such as trial rooms and a parking for the public, in order to promote the efficiency of judicial services.”
Khaled Bin Alwaleed bin Talal, founding Chairman of KBW Investments, said, “The Dubai Supreme Courts development, an expansive project that will be a hallmark achievement in NGP’s portfolio, demonstrates the UAE’s forward-thinking movement toward smart and sustainable building. KBW Investments takes pride in being at the forefront of technological advancements in UAE infrastructure.”
Issa Najieb Khoory, Chairman of Park Line, said: “This project would pave way for future PPP Projects in the Emirates of Dubai and its successful implementation would set up a benchmark for developing infrastructure projects on PPP basis. We will encourage more and more public authorities to adapt the PPP project structure as it removes the risks from the public sector to private companies.”
K Ramchand, Managing Director, ITNL, said: “This is the culmination of a year-long effort between the proponents to arrive at a mutually beneficial partnership providing for a risk sharing mechanism acceptable to all stakeholders in such projects. As is observed all over the world, the success of the initial clutch of projects pave the way for expeditiously promoting PPP projects across various sectors of infrastructure.”
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