Tuesday, September 23, 2008

Capitala Abu Dhabi Awards AED 1.9 bn Main Construction Contract for Rihan Heights

WAM Abu Dhabi, Sept.23rd, 2008 (WAM) - Capitala, the Abu Dhabi-based strategic master planner and developer, announced Tuesday that it has awarded the main construction contract for Rihan Heights, the first phase of its US$ 5 - 6 billion flagship project, Arzanah. 

Strategically located at the gateway point on Abu Dhabi island, Arzanah is the 1.4 million square metre fully integrated, mixed use development surrounding Zayed Stadium. Arzanah offers a unique blend of quality residential properties with leisure, sports and retail amenities that focuses on promoting an active urban lifestyle for its residents and the community at large.

Rihan Heights consists of five residential towers with 854 apartments and 14 exclusive villas. Enabling works have already commenced with piling completed a month ahead of schedule. This 25-month main construction contract covers all other construction activities as well as associated mechanical, electrical and plumbing works (MEP).

The contract, valued at around AED 1.9 billion (approx US$ 500 million), was awarded to the joint venture partnership between Sunway Construction Sdn Bhd (SunCon), part of the international Sunway Group, a leading multi-disciplinary conglomerate headquartered in Malaysia, and Silver Coast Construction '&' Boring Est, a leading Abu Dhabi-based contractor. 

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