Sunday, January 21, 2007

ETA Star hands-out three UAE projects worth Dh.1 billion

ETA Star, the Dubai-based property developer has handed over construction contracts for three projects in the UAE, which is worth more than Dh.1 billion.

The company has entered into a deal with Dubai-based contractors Civil Company for construction of a four block apartment complex, Centrium, at the International Media Production Zone (IMPZ) located in Emirates Road.

In the meanwhile, the tender for Al Manara Project (a commercial tower designed by Singapore firm) which is located at the Business Bay master development was handed over to Ascon by ETA Star.

The last contract was picked up by Fast Contracting for the work on a
residential project Star Heights, located in Al Nahda, Sharjah, the
construction of which, is likely to last for more than twenty five months.
The officials of ETA Star said that the company is laying emphasis on the construction of the main structures. The Al Manara project is scheduled to be completed by 10th January 2009, while the Centrium is due for completed by 15th May 2009.

The Executive Director of the ETA Star company, Abid Junaid, has assured the investors that the projects will be completed by the scheduled dates. Lot of Real Estate Developers have been in crisis due to lack of contractors and sub-contractors, limited labour pool and the fluctuating raw material prices, which in turn is leading to major delays in project deliveries.

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