Award winning contractor ALEC appointed for the AED600 million contract
Dubai, United Arab Emirates -Tuesday, August 1st 2017 [ ME NewsWire ]
UAE based Select Group has appointed ALEC, the multi award winning company for the main works of Jumeirah Living Marina Gate, its flagship waterfront development in Dubai Marina. The current contract valued at AED 600 million brings the total project value for The Residences at Marina Gate to AED 1.6 billion.
Launched in Q1,2017, Jumeirah Living Marina Gate is the third, and last tower within the luxury Marina Gate development and will include 104 serviced apartments, 389 private residences and 15 villas. Select Group signed an agreement with Jumeirah Group in January 2016, to manage this development under its Jumeirah Living brand.
“We remain steadfast in our commitment to excellence. The appointment of a world class contractor like ALEC is further testament to our continued strategy of working with tier one partners and suppliers. The long term outlook for real estate in UAE remains positive and Jumeirah Living Marina Gate is set to raise the bar in luxury residential developments. With the commencement of main works we aim to deliver this project on schedule and to the highest standards.” said Rahail Aslam, CEO of Select Group.
Enabling works have been completed and the main contractor has fully mobilized onsite. With 1.3 million ft2 built up area, the development is expected to be completed in the fourth quarter of 2019.
Commenting on the awarding of the contract, Kez Taylor, CEO of ALEC stated, “We are delighted to be involved in the construction of The Residences at Marina Gate I, II and Jumeirah Living Marina Gate. It is a fantastic development in a great location and we are proud to be working alongside Select Group to make this project a success.”
Prices for Jumeirah Living Marina Gate range from AED1.5 million to over AED16 million, with a payment plan of 70 percent upon completion.
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