Wednesday, September 09, 2009

Dubai all set to build world's tallest residential tower

Following a brief period of lull, the skyscraper deals have once again gathered momentum in Dubai.

The latest one in this direction is the awarding of USD400million contract to Arabian Construction Company (ACC) by Trident International Holding, to build the world's tallest residential tower, namely the Pentominium in Dubai Marina.

According to the developer, the 124 storey Pentominium will be one of the tallest man-made structures and is hoped to the second tallest building in the world, after Burj Dubai. Each apartment in the 618meters tower will cover either half a floor or an entire floor.

The total built-up area of the tower will be 170,000 square meters and the duration of construction is hoped to take 48 months, revealed a company statement.

The Pentominium will be the tallest all-residential building in the world on completion, and is currently the highest project among any residential building under construction, said Aedas, the project designers.

The Executive Director and CEO of Trident International Holdings, Wazir Daredia, said that the Pentominium is a unique project that raises the concept of luxury living to new standards and with the construction major ACC, the project has gained an exquisite bouquet of brand partnerships for the development.

Activity is gradually picking up pace in the construction sector. The ACC deal follows the $187mn contract in Dubai awarded on 25th August to UAE's contractor Arabtec, of which, the Samsung Engineering and Construction forms a part of the team working on the Burj Dubai.

ACC has a backlog of 54bn worth of projects in the Middle East and is currently working on 10 projects worth Dh.5.8bn in Dubai.

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