Al Jaber Building has clinched the AED370mn ($100.7mn) main construction contract for the Jawaher Saadiyat residential development on Saadiyat Island in Abu Dhabi.
Tourism Development & Investment Company (TDIC), the master developer of major tourism, cultural and residential destinations in Abu Dhabi, said the project is on a 24-month delivery from mobilisation on site.
H.E. Ali Majed Al Mansoori, TDICs Chairman of the Board, said: TDIC has already received much interest from investors for Jawaher due to its prime location overlooking the Saadiyat golf course and the sense of exclusivity it offers to residents. We are confident that once completed, it will drive demand for our real estate offerings on Saadiyat even further.
Al Jaber Building is no stranger to Saadiyat island where it is also working on the Hidd Al Saadiyat residential development.
H.E. Obaid Khaleefa Al Jaber Al Marri, Chairman of Al Jaber Group said: Having previously developed more than 7,000 villas in numerous prestigious projects, Al Jaber Building is looking forward to join hands with TDIC to develop yet another great milestone.
Designed by DSA with interiors by Bishop Design, Jawaher Saadiyat will feature 83 units comprising 4 to 6 bedroom villas and 4-bedroom townhouses designed in a contemporary and modern style.
TDIC has partnered with various banks to offer potential homeowners a range of attractive financial offers. These include Abu Dhabi Commercial Bank, National Bank of Abu Dhabi, Abu Dhabi Islamic Bank, Al Hilal Bank, Dubai Islamic Bank, Abu Dhabi Finance, Union National Bank Mashreq Bank and Standard Chartered Bank.