MESC wins Pier job as Abyaar moves in

Kuwaiti developer launches US $150 million Pier 24 and Pier 8 projects in Dubai

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By  Angela Giuffrida Published  September 16, 2006

Modern Executive Systems Contracting has won the main contract to build one of two serviced apartments tower blocks in Dubai Marina. The company will build Pier 24, which is one of two towers being developed by Kuwait-based Abyaar Real Estate Development, while the M&E package has gone to Ahmed Ramadan Juma. The main contractor for the second tower, Pier 8, will be announced within the next month, while Atkins has been appointed consultant and Arabian Forasol, part of Al Ghurain Group, is undertaking the piling work. Abyaar Real Estate Development, backed by investment companies Aayan Leasing and Investment Company and Al Rashdan Group, is spending US $150 million (AED550 million) on the project as part of a $1.4 billion investment package in Dubai over the coming year. The 20-storey Pier 24, which has been designed by KEO International, will be operated under Rezidor’s Radisson SAS brand. The management contract for the 40-storey Pier 8 is nearing finalisation. “Our projects will bring the very highest hospitality standards to the Middle East real estate sector and Abyaar’s portfolio will be an impressive collection of exclusive, finely designed, freehold initiatives which will eventually be rolled out across the GCC and Europe,” said Hisham Al Obaid, chairman, Abyaar Real Estate Development. “Pier 24 and Pier 8 will be the first of several projects to be launched by the company in Dubai this year. Other projects on the drawing board will further demonstrate our commitment to the UAE market and our belief in its long-term investment potential.” Pier 24 is expected to be completed in the summer of 2007 and Pier 8 is due to be ready in June 2008.

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