Dubai developer Limitless has awarded a AED 227.5mn ($62mn) construction contract to complete two residential towers at The Galleries at Downtown Jebel Ali.
The company appointed UAE-based Eastern International to carry out the work, which it is expected to complete in Q3 2017 due to the 27-storey towers being already 70 percent built, it said in a statement.
News of the contract comes just weeks after Limitless announced an agreement with creditors to restructure its AED 4.45bn ($1.2bn) debt.
With a combined built up area of 936,000 square feet, the two towers comprise 641 apartments as well as ground-floor retail space spanning 68,000 square feet.
They are located opposite the four fully operational office towers that make up The Galleries’ business community.
Ali Rashid Lootah, Chairman of Limitless, said: “The Galleries is already a firmly-established, vibrant commercial hub and home to some of the world’s biggest names in business. With the completion of these two towers, we can look forward to The Galleries growing into a full mixed-use, strategically-located community that combines top-flight office accommodation with high-standards of living and leisure.”
Limitless said it is seeing increased demand for residential units at The Galleries due to its location and transport links.
The development is an hour by car from Abu Dhabi and is directly accessed from Sheikh Zayed Road as well as having a metro station.