The Sunland Group (Dubai) has issued a Letter Of Intent (LOI) to Arabtec Construction LLC a subsidiary of Arabtec Holding PJSC for the construction of its latest project The Atrium at Waterfront, which is in the new Madinat Al Arab precinct of Nakheel’s Dubai Waterfront development at Jebel Ali.
The total value of the project which is just over AED 2.4 Billion will include all associated structural, civil, electromechanical works, external works and commissioning. It is expected to be completed by the end of 2013.
The project comprises of 3 basement levels and 68 storey residential towers with a total area of 273,000 square meters or over 3 million square feet.
Arabtec is currently working with Emirates Sunland (a joint venture between Emirates International Holdings and Sunland) on two major projects in Culture Village. These include the D1 Tower, an 80 storey luxury residential building and Palazzo Versace Dubai, a luxury 215 room hotel, and 169 condominiums.
Madinat Al Arab is the first phase of construction in Waterfront by Master Developer, Nakheel. The premier beachfront precinct will transform 1.4 billion square feet into an international community incorporating mixed use development with residential, hotel, commercial and retail.
Waterfront is also developed on the last 15km of natural coastline in Dubai and will provide more than 70km of coastline in total, including the development of 23% of the Arabian Canal. Waterfront is located in close proximity to the new Jebel Ali Airport making the new precinct fully accessible on a local and international scale.
The Atrium will be launched by Sunland at this year’s Cityscape.