Damac announces Jordanian partners
Three companies named to complete Amman projects
United Engineering Construction (UNEC) and El Concorde Construction have been awarded contracts by Damac Properties to complete its projects in Amman, Jordan.
Damac’s projects in the city include The Heights, Lofts at The Heights and The Courtyard 1 and 2, where construction will recommence “immediately”, according to Damac senior vice president, Naill McLoughlin.
“Main works will recommence at the site immediately, and Damac Properties’ expects construction to accelerate from this point forward,” McLoughlin said.
“Damac Properties is confident we now have the right mix of expertise to propel our Amman projects forward and complete them to our high standards of quality and luxury,” he added.
The Heights in Jordan is a 35 storey residential tower, intended to be a “focal point” for social gatherings and community events, with The Lofts providing an “executive residence”.
ABOVE: Al Jaber group chairman Obaid Khalifah al Jaber.
‘reorganisation and steering committee’ (RSC), comprising members of the group’s senior management, together with external advisers. A statement from Al Jaber says the purpose of the
The Courtyard features an open-air rooftop terrace for recreation.
The projects are located at the gateway of the Abdali master plan.
Damac has also stated intentions to deliver seven “major projects” over the next 12 month, with contracts worth US $1 billion awarded in the previous 12 months, in Dubai, Abu Dhabi and Saudi Arabia.
The Jordan-based UNEC, an ISO 9001: 2008 certified full service construction company has been operating for 36 years, specialising in projects including multi-storey residential buildings, mosques and shopping malls, according to the developer.
The company’s second Jordanian partners, Elm Concorde, provide engineering and construction services for the public and private sectors. Dar Al-Omran has been enlisted as project consultant.
Damac also commented that Jordan’s property market is recovering, with prices in Amman rising 20% in 2010. The IMF predicts economic growth of 4.5% in 2011.
“Jordan’s economy is powering along, and Damac Properties is very optimistic about the outlook for the property market, given the country’s strong financial and economic position,” McLoughlin said.
