ABU DHABI, SEPT 9, 2001 (WAM)--Emaar Properties has announced that the Nasa Multiplex and Al Futtaim Tarmac joint venture has been awarded the contract to build the first three of the six apartment towers of Phase I of the prestigious Dubai Marina project. +Construction work has now commenced on the three northern towers and two-storey podium which will take 24 months to complete and be ready prior to the IMF and World Bank Conference in 2003,+ Emaar said in a Press release, according to reports in the UAE's dailies. The contract for the north half of Phase l is worth more than Dh500 million and other major sub contractors on the project include Concrete Technology, ETA, York, ETA Melco and Cox International. The almost identical south half of the project will be awarded before the end of the year which will complete the significant 3.5 million square foot complex, it said. According to the release, the project involves the building of the 41-storey Al Murjan Tower, 34-storey Al Mass and 26-storey Fairooz towers that will total 569 apartments. It also includes constructing 34 villas and a two-storey podium that will contain parking for about 1000 cars, a fitness centre and space for 20 retail outlets including restaurants. Mohamed Alabbar, Emaar Properties chairman said the awarding of the contract and the start of construction represented a major landmark in the development of Dubai Marina and the creation of the first "intelligent" city in the Middle East. +We are creating a truly world-class project that is proving a breakthrough in the real estate market in Dubai and we have already sold over 370 apartments off the plan. Now construction is underway the people of Dubai will be able to see and fully appreciate the scale and ambition of this new and exciting community development.+ WAM-VV
