Monthly magazine focusing on real estate markets in the GCC region.
Jun 15, 2006
for construction of two office towers 55-storey Omnix North and South Towers
ready in 2008
DUBAI, United Arab Emirates, June 18th, 2006: Dubai Pearl
Inc announced today that it has signed a AED498 million (US$136 million)
agreement with Dubai Contracting Company (DCC) to build the Omnix North and Omnix South Office Towers of Dubai Pearl. Jamal Abu Issa, President of Dubai Pearl Inc,
and Abdallah Yabroudi, Chairman of DCC, signed the agreement.
Scheduled for completion by mid-2008, the 55-storey office
towers will be a key feature of the AED5.8 billion (US$1.6 billion) Dubai Pearl
- a 10 million square foot ‘self-contained community’ that will take shape
overlooking the base of The Palm Jumeirah. The office towers will rise to
around 208 metres and establish Dubai Pearl as a prestigious business,
residential and leisure destination in the GCC.
Describing the contract as a major step forward for the
project, Abu Issa said: “Dubai Pearl will incorporate the most sophisticated
design technologies to offer a world-class office environment. It is important
that we partner with the right contractors such as DCC who understand our
requirements and can help us achieve our ambitious goals.”
“This contract win is a vote of confidence in DCC,”
explained DCC Chairman Abdallah Yabroudi. “Our association with this
prestigious project underlines our leadership in the region’s real estate
The total area of both office buildings exceeds 1.7million
leasable square feet. The towers will take 23 months to finish and
groundbreaking by Swissboring starts this month.
Overlooking The Palm Jumeirah and adjacent to the Dubai
Media and Internet Cities and Knowledge Village, Dubai Pearl will be a novel
mix of residential, commercial, retail and leisure developments designed to
reflect Dubai’s multicultural character.
Dubai Pearl will feature four deluxe hotels, three
residential buildings, two office towers, a comprehensive retail space, an
exhibition area for IT shows and conferences, an art gallery, and the
1,800-seat Royal Hall theatre.