Abu Dhabi top developer of touristic, residential and cultural areas, Tourism Development & Investment Company (TDIC) has assigned AED 370 million ($100 million) Jawaher Saadiyat construction contract to Al Jaber Building, Trade Arabia reported.
The residential project, which will be built in Saadiyat Beach District, is expected to be delivered in two years, TDIC said in a statement.
“We are pleased to announce the awarding of the main contract for Jawaher Saadiyat, the latest residential community at the Saadiyat Beach District, which adds to Saadiyat’s appeal as a destination of choice in the market,” Chairman of TDIC, Ali Majed Al Mansoori said.
“TDIC has already received much interest from investors for Jawaher due to its prime location overlooking the Saadiyat golf course and the sense of exclusivity it offers to residents. We are confident that once completed, it will drive demand for our real estate offerings on Saadiyat even further,” he added.
“We are proud to be chosen by TDIC to execute this project. Having previously developed more than 7,000 villas in numerous prestigious projects, Al Jaber Building is looking forward to join hands with TDIC to develop yet another great milestone,” said Obaid Khaleefa Al Jaber Al Marri, Chairman of Al Jaber Group, according to UAE news agency, WAM.
The project is set to include 83 four-six bedroom villas and four bedroom townhouses. Villas are between 636-1,268 square meters in size with adjoining two-four car parks, while townhouses are between 462-464 square meters in size with two car parks.