Work on the project is expected to begin in July 2013.
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Arabtec Construction, the UAE based construction contractor, has been awarded a $197 million contract for the construction of the first St Regis property in Jordan, it was announced on Sunday.
Al Maabar International Investment has appointed the contractor to build the St Regis Amman and The Residences at the project, Yousef Al Nowais, managing director of Al Maabar, said. Arabtec was selected as the lead contractor out of 10 companies invited to bid last year.
“Jordan is of great strategic importance to the Middle East and North Africa region and we are committed to driving long-term sustainability and economic growth to Jordan through our mixed-use development projects,” he said during the signing of the agreement.
“This partnership reflects our commitment to working with the best-in-class to deliver the first St. Regis property to be developed in Jordan as part of our vision to deliver world-class mixed-use properties for our stakeholders, including future residents, businesses and visitors.”
Work on the project is expected to start in July 2013, and is scheduled to take place over 33 months.
Hasan Abdullah Ismaik, Managing Director and CEO of Arabtec Holding, said, “We are proud to be partnering with Al Maabar on this prestigious project that will not only add a new landmark to Amman’s skyline but also contribute to the vibrancy and lifestyle of the city. For Arabtec, this is a significant step into Jordan and an important development in our strategy to expand our regional footprint.”
Arabtec’s current backlog is valued at more than AED 21 billion. The company is synonymous with unique construction projects, such as the Burj Khalifa, the world’s tallest building and the Emirates Palace Hotel in Abu Dhabi. Recent contract awards also include construction of the Fairmont Hotel Abu Dhabi and Serviced Apartments, the Louvre Abu Dhabi and expansion of the Abu Dhabi International Airport.
The project will include the construction of three 17-storey towers with three basement levels of parking. One tower will house the luxurious 260-guest room St Regis Amman Hotel, while the other two, which will be connected by an external façade, will feature the The Residences at the St. Regis Amman – the first private branded residences available for purchase in Jordan.
The development will also include 25 exclusive boutiques on the podium level of the development, featuring some of the most prominent international brands, four restaurants, a café, pool, fitness centre, signature spa and private parking, an ultra-modern meeting and event space and a business centre.
There will be 79 private residences available for purchase, including 2-, 3- and 4-bedroom residences, in addition to duplexes and 5-bedroom sky villas. Residents will have full access to world-class amenities and recreational facilities including a pool, fitness centre, dedicated lobby, business centre, playgrounds, executive lounge, private theatre, butler service and a remarkable space to host meetings and events.