ARACO contracted to design 14 buildings in Dubai
Abdul Rahim Architectural Consultants (ARACO), an engineering consultant in design and project management in the UAE won a tender for the design and licensing of 14 buildings in Dubais Satwa area.
The project, released by Alnafisi National Real Estate Group Co. is valued at approximately AED 570mn ($155.2mn) and is expected to cover a building area of 1.3 million feet.
Based out of Kuwait, the Alnafisi National Real Estate Group Co. is an experienced investor in real estate development, and has several investments across the UAE, Kuwait, and other countries.
The company owns several planned buildings and, also represents investors from the Alnafisi family in the real estate sector.
The tender which ARACO won, has architectural, structural, MEP design and engineering, the obtaining of all necessary permits from relevant bodies, and complete overseeing of the construction process as its scope of work.
We were very impressed with the thoroughness of ARACOs bid, and knew our project and vision here in the UAE will be in safe hands because of ARACOs extensive experience in the country and region, said Talal Yousef Alnafisi, member of the Board of Directors of Alnafisi National Real Estate Group Co., on the Alnafisi Groups decision to invest in Dubai.
Dubais investment environment is still regarded as the most attractive for such projects in the region. The quality and variety of the real estate sector only adds to the ROI which continues to be and promises to be one the highest in the region, he continued.
The real estate sector in Dubai is set for further stabilization buoyed by government spending in the lead up to the World Expo in 2020.