Dragon City tower deal awarded

Master developer Nakheel has signed a contract for the construction of Dragon Towers, its new, twin-building residential complex with a total development value of Dh713 million ($194 million), to be built at Dragon City mixed-use community in Dubai.

Directly-connected to the world-famous Dragon Mart retail and trading complex, the 37-storey, two tower project comprises one- and two-bedroom apartments; ground and first floor retail; four parking levels and a sixth floor podium-level clubhouse with a swimming pool, restaurant and gym.

The Dh552-million ($150 million) contract was awarded to UAE-based Ali Mousa & Sons Contracting as per which the mobilisation work will begin immediately. The construction is likely to be completed in 2021, it stated.

Ssangyong wins hotel contract

South Korean builder Ssangyong E&C has won a KRW70-billion ($62 million) contract from UAE-based wasl Asset Management Group to build a five-star boutique hotel at La Mer beachfront development in Dubai, said a report.

As per the deal, Ssangyong E&C will be responsible for the construction of the 156-room Andaz Hotel, a Hyatt brand, designed by VX Studio. Work has already begun on the project and is likely to be completed in 2020, reported Korean business daily Pulse.

The Andaz Hotel will be built in Jumeirah 1, one of the three areas in the coastal residential district of Dubai. Part of the Hyatt chain, the upcoming property will have seven floors above ground and two underground floors and provide 156 rooms.

$123m Dubai Motor City ready

Union Properties has announced the delivery of all the residential units at its OIA Residences project, developed at the cost of Dh450 million (Dh123 million), within Dubai Motor City.

A motor-sport theme destination developed over a 38-million-sq-ft area on Emirates Road, the Dubai Motor City features residential units, business towers, motor-sports facilities, retail and a theme park.

Spanning 184,000 sq ft, the OIA Residences is a five-storey building which includes 269 residential units ranging from one- to four-bedroom apartments and duplexes. The project boasts an eye-catching design. Inspired by modern Greek aesthetics, the latest addition to Union Properties’ portfolio evokes the beauty of European islands.