{"id":25207,"date":"2016-09-06T21:56:41","date_gmt":"2016-09-06T14:56:41","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=25207"},"modified":"2016-09-06T20:09:57","modified_gmt":"2016-09-06T13:09:57","slug":"contractor-for-deyaars-dh3bn-midtown-project-likely-by-year-end","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/contractor-for-deyaars-dh3bn-midtown-project-likely-by-year-end\/","title":{"rendered":"Contractor for Deyaar's Dh3bn Midtown project likely by year-end"},"content":{"rendered":"


\nDeyaar Development has tendered the main contract for phase one of its Dh3 billion Midtown project in International Media Production Zone, with a main contractor likely to be in place by the end of the year. The Dubai developer said that phase one will contain two of the project’s six districts. Districts two and three will comprise 13 of the 25 residential towers being planned at Midtown, “We are tendering at the moment. We’re doing the enabling contract – the excavation and piling,” said Iyad Charchar, the vice president of projects and engineering. It is spending about Dh31 million on enabling works, which are currently “halfway” through, according to Mr Charchar.”We estimate the value of construction to be somewhere between Dh700 million and Dh750m. Obviously this is just the construction cost and doesn’t include services connection or land costs.”He argued that the work on phase one of Midtown will take just over two years to build, with completion scheduled for mid-2019 – “possibly earlier, by Q1 2019″.The company had initially said at the launch of phase one of the project in August last year that that it had expected to appoint a contractor by the end of 2016, with completion for September 2018.Mr Charchar added that it is currently assessing tender bids from contractors to build its new 408-unit hotel and tower block in Al Barsha, which was announced last week.__________Photo gallery\u25a0 New property projects at Cityscape Global 2016 in Dubai – in pictures__________A contractor for that project is expected to be appointed next month, but work will be completed under a fast-track contract that will finish by December 2017.”This is going to be a model project management and construction project for us,” said Mr Charchar. “The problem with most projects is because of the commercial side to it. You have to launch and start construction while you are selling. You end up making a lot of slow decisions. But in Al Barsha it’s not freehold. We have to design it, build it and operate it to start getting revenue. So everything was done in a much faster fashion.”The new hotel in Al Barsha will be one of three Deyaar projects with a hospitality element set to be operated by Millennium & Copthorne Hotels due for completion by the end of next year. The Montrose project – a three-tower scheme in Dubai Science Park containing one hotel tower – and the twin-towered Atria project at Business Bay are also set to complete next year.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Contractor for Deyaar’s Dh3bn Midtown project likely by year-end<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Deyaar Development has tendered the main contract for phase one of its Dh3 billion Midtown...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-25207","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6yz","jetpack-related-posts":[{"id":9300,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/deyaar-to-launch-second-phase-of-817m-midtown-development\/","url_meta":{"origin":25207,"position":0},"title":"Deyaar to launch second phase of $817m Midtown development","date":"March 28, 2016","format":false,"excerpt":"\r Dania District is Part of 1.2 Million Square Feet Mixed Use Project at IMPZ\r \r Source : arabianbusiness.com\r Read more...Deyaar to launch second phase of 7m Midtown development","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101706,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guoco-midtown-project-in-beach-road-to-feature-200-homes\/","url_meta":{"origin":25207,"position":1},"title":"Guoco Midtown project in Beach Road to feature 200 homes","date":"November 27, 2018","format":false,"excerpt":"\r View of the Guoco Midtown site along Beach Road in the CBD. (Photo: URA) Singapore developer GuocoLand recently said it has started construction work on its mixed-use development along Beach Road. Dubbed Guoco Midtown, the integrated project will have a total gross floor area (GFA) of around 950,500 sq\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103567,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-starts-construction-of-guoco-midtown-despite-84-earnings-plunge\/","url_meta":{"origin":25207,"position":2},"title":"GuocoLand starts construction of Guoco Midtown despite 84% earnings plunge","date":"February 1, 2019","format":false,"excerpt":"\r The Group recently broke ground for the integrated mixed-use development Guoco Midtown in Singapore. GuocoLand\u2019s earnings plunged by 84 percent to $10.85 million in the second quarter ended 31 December compared to about $66.01 million during the same period a year ago, according to an SGX filing on Thursday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106357,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/beach-road-district-to-undergo-rejuvenation\/","url_meta":{"origin":25207,"position":3},"title":"Beach Road District To Undergo Rejuvenation","date":"April 23, 2019","format":false,"excerpt":"\r The upcoming Guoco Midtown will add to the area\u2019s ongoing rejuvenation. The Beach Road District is set to undergo rejuvenation with the upcoming Guoco Midtown. Spanning approximately 950,600 sq ft, the 99-year leasehold integrated project by Singapore developer GuocoLand will comprise the conserved Beach Road Police Station, 30,000 sq\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21472,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/progress-at-saadiyat-lagoons-project-as-enabling-works-to-get-under-way\/","url_meta":{"origin":25207,"position":4},"title":"Progress at Saadiyat Lagoons project as enabling works to get under way","date":"July 31, 2016","format":false,"excerpt":"\r Saadiyat Island is set for a fresh burst of construction activity as enabling works get under way on a district that will be home to 29,000 people.Abu Dhabi's Tourism Development & Investment Company (TDIC) awarded Mussafah-based Western Bainoona Group for General Contracting the enabling works package on the first\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118321,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-unveils-expansion-plan-for-guoco-midtown-master-project-to-include-a-second-residential-project\/","url_meta":{"origin":25207,"position":5},"title":"GuocoLand unveils expansion plan for Guoco Midtown Master Project, to include a second residential project","date":"August 21, 2020","format":false,"excerpt":"\r Known as Midtown Modern, the condominium will come with 500 apartment units. Photo: Midtown Bay GuocoLand has unveiled plans for Guoco Midtown II, an expansion of Guoco Midtown. The\u00a0mega mixed-use development along Beach Road will also come with the inclusion of a second residential project known as Midtown Modern\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/25207"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=25207"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/25207\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=25207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=25207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=25207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}