Addax deal is due in August
The main construction package for Abu Dhabi’s new US $1.8 billion (AED6.5 billion) Addax Port development is expected to be awarded by the end of August.
The main construction package for Abu Dhabi’s new US $1.8
billion (AED6.5 billion) Addax Port development is expected to be awarded by the end of August.
Confirmation came from the Abu Dhabi-based Towers Investment Company, which launched the development to be located on Abu Dhabi’s Reem Island last week.
“Piling work will begin in November this year and the main construction contracts will be awarded within the next two months,” added a spokesman.
The project will include the construction of four residential towers and one commercial tower over a total area of 810,000m2. Each of the buildings will be 50-storeys high.
The commercial tower will be the World Trade Centre and the port is being marketed as the city’s prime business and residential hub. The four towers will be called the Park Tower, Marina Tower, Executive Tower and Light Tower.
“Addax Port has been conceptualised to become a home concentration of international enterprises’ and operations’ headquaters within Abu Dhabi’s vibrant business environment,” said Saaed Al Qahtani, CEO, Towers Investment Company.