Real estate leaders Tameer and Sorouh on Monday finalized an agreement with a joint venture of Al-Habtoor Engineering/Murray & Roberts/Al-Rajhi Projects to construct the landmark Tameer Towers project in Abu Dhabi for a cost of AED6 billion, bringing the total cost of the project to AED8 billion. This announcement represents the accomplishment of a major milestone in the Tameer Towers project, a joint venture between Tameer Holding Investment LLC and Sorouh Real Estate PJSC. The iconic Tameer Towers was launched in October 2007 and has since been considered one of Abu Dhabi's landmark developments. Its simple yet creative design has made it a favorite destination for investors and end-users alike. The construction partners will join the Tameer/Sorouh joint venture in an alliance that will include the architect Gensler from London, along with the structural engineer Thornton Tomasetti, the mechanical engineer Hilson Moran, and the façade engineer Buro Happold in addition to the project manager Hill International and the construction manager Bureau Veritas. Tameer Towers is in SHAMS Abu Dhabi, the leading new development on Al-Reem Island which is master-planned by Sorouh Real Estate PJSC. Home to 45,000 residents, SHAMS Abu Dhabi will be a completely new self-sustaining city based around canals and parks, which integrates world-class master planning practices and extends the lush green of Abu Dhabi's landscape. A key area of SHAMS Abu Dhabi will be Central Park, an 8.1 hectare landscaped open space with extensive recreational and educational offerings. Central Park will become a favored destination for residents of both Al-Reem Island and the city of Abu Dhabi and will undoubtedly take its place in the pantheon of great city parks. Dr. Abdallah Shaaban, managing director of Tameer Abu Dhabi, said: “The innovative alliance concept is another pioneer concept adopted by Tameer in which all the partners within the alliance act as one with the main purpose of constructing the project with the utmost attention to quality, cost, and delivery. This innovative concept is new to this market and will mitigate many of the delay-resulting risks associated with claims, delays, and the rising costs of manpower and commodities in the UAE.” With the foundation works currently being constructed by Arabian Foundations being well underway and progressing according to schedule, the joint venture is set to mobilize immediately. “The alliance has confirmed the delivery date of June 2011 for the residential portion and December 2011 for the commercial portion” he added. “We at Tameer take very seriously the challenge of delivering a top-quality product on time.” __
