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Monday, March 26, 2012

AED 190 million contract awarded to Ali & Sons to build Capital House a new residential tower in ADNEC’s Capital Centre development in Abu Dhabi


Abu Dhabi, UAE - Monday, March 26th 2012 [ME NewsWire]

SinoGulf Real Estate Investments and EastGate Capital Group announced today that they have awarded the main construction contract, for their residential tower, within the ADNEC’s Capital Centre Master Plan to Ali & Sons Contracting Co LLC.

The tower comprises 22 floors, offering 332 one and two-bedroom apartments. Other amenities include a swimming pool and gymnasium. The building will also have 418 parking spaces at basement and podium levels and a retail area of approximately 600 sqm and is adjacent to the Grade A LEED rated commercial tower, International Tower. Completion of the project is expected in Q4 2013.

Andrew Clout, Managing Director of SinoGulf said:

“Ali & Sons has been selected through a comprehensive and exhaustive pre-qualification and tender process. Their active participation, transparency and willingness to assist is highly appreciated and key to their selection. We look forward to working closely with Ali & Sons to ensure that we, and our partners EastGate Capital Group and UNB develop an exceptionally attractive residential development on the main island of Abu Dhabi.”

Shamis Al Dhaheri, Managing Director of Ali & Sons said:

"We are delighted that SinoGulf Real Estate Investments and EastGate Capital Group have selected Ali & Sons Contracting Co. LLC (ASC) for this contract. We are confident that we will be able to give the highest performance and maintain the highest quality and deliver yet another landmark. This residential tower will be a state of the art product introduced to the Abu Dhabi market."

About SinoGulf:

SinoGulf Real Estate Investments LLC known as SinoGulf Investments was established in Abu Dhabi in 2003 to develop real estate opportunities and assets for investors from within the Gulf region. SinoGulf has a number of investments, subsidiaries and associates including SinoGulf (DIFC) Limited, an Asset Management subsidiary that is licensed by the DFSA.

www.sinogulf.com

About Ali & Sons Contracting LLC:

Ali & Sons Contracting Company LLC (ASC) was established year 1979.

ASC is part of AS Group well known for many brands as Audi, Porsche, Volkswagen, Skoda, Sulzer Pumps, Ship Building, Marine Services, Oilfield Supplies and Services, etc.

ASC is associated with many mega projects within the UAE including the lately handed-over opening of phase 2 of Al Wahda Mall project.

ASC maintains the highest quality, the highest management systems and an on time delivery record."

Contacts

Mr. David Cockerton

+971 50 748 6518

davidc@sinogulf.com

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