DAMAC PROPERTIES AWARDS MAIN CONTRACT IN JORDAN

Fast track construction for Abdali projects

Luxury developer DAMAC Properties has announced it has awarded the main construction contract for the completion of its projects in Amman, Jordan to United Engineering Construction (UNEC) and El Concorde Construction.

The joint venture between United Engineering Construction (UNEC) and El Concorde Construction will see them complete DAMAC Properties' Jordan developments, which include the Heights, Lofts at the Heights and The Courtyard 1 & 2.

"Main works will recommence at the site immediately, and DAMAC Properties' expects construction to accelerate from this point forward" said Niall Mc Loughlin, Senior Vice President DAMAC Properties.

UNEC, a highly reputable ISO 9001: 2008 certified full-service construction company has more than 36 years of industry experience. It has an impressive track record of work which includes multi-storey residential buildings, mosques, luxury villas and shopping malls.

UNEC's Jordanian partner El Concorde Construction has been active in Jordan's construction industry for more than three decades, providing engineering and construction services to both the public and private sectors.

UNEC and El Concorde Construction will work with the well known consultant Dar Al-Omran, the Jordan-based consulting firm, which has distinguished itself through its expertise in culturally sensitive design work.

"DAMAC Properties is confident we now have the right mix of expertise to propel our Amman projects forward, and complete them to our high standards of quality and luxury" Mc Loughlin added.

DAMAC Properties' projects in Jordan are situated at the gateway to the Abdali master plan. The Heights in Jordan is a luxury 35-storey residential tower, which is positioned alongside a piazza, making it a focal point for social gatherings and community events. The Courtyard earns its appeal from its open-air rooftop terrace, where residents can take time out from their hectic work schedules. The last of the projects in Jordan, the Lofts at the Heights, is an executive residence, which sets a new benchmark for modern living.

Jordan's property market has been staging a recovery, with official government figures confirming property prices in some parts of the capital, Amman, rose 20 per cent in 2010. The property market is expected to continue to strengthen this year according to Zuhair Omari, President of the Housing Investors Society.

Jordan's economy is expected to expand 4.5% in 2011, according to the IMF, after growing 4.15% in 2010. Mc Loughlin commented; "Jordan's economy is powering along, and DAMAC Properties is very optimistic about the outlook for the property market, given the country's strong financial and economic position."