Diamond Developers to issue $82 million contract for construction within their $299 million Sustainably City project
Diamond Developers will issue a $82 million contract for construction within their $299 million Sustainably City project in Dubailand, UAE.
“We will be issuing a tender for the construction of a school, a university and a planetarium by February next year,” said Faris Saeed, chairman of Diamond Developers .
The company will also construct 500 villas in the development, which will be handled by their in-house construction arm, Jeet Contracting.
“We are expecting to get the building permit soon from Dubai Municipality to start construction of the first phase of villas. We plan to handover the first phase by end-2014,” Saeed added, saying that the master planning and project design has been developed by the in-house team.
Set for completion in 2015, Dubai Sustainable City is expected to feature a green belt with 20,000 trees and a 5,000 square foot-long water canal with a tourist minaret. At least 20% of the construction area is planned to be built with eco-friendly materials. The project will also feature 600,000sqft. of solar farms, which will provide for 50% of the cooling energy in the development.
Saeed also added that all sewage water will be recycled, and homeowners will not be charged for services, community fees and maintenance fees for their villas. The community centre and retail wing are expected to generate enough income to cover expenses.