Tameer Towers - Shams Abu Dhabi
Shams Abu Dhabi, Abu Dhabi, United Arab Emirates
Project No. PRJAE0719673
Project Type: Large Scale Development ( Commercial / Residential )
Progress : On Hold
Plot Number: S2-C28, S2-C29, S3-C05 & S3-C06
Area: Al Reem Island
Created On: March 04, 2007
Last Updated: February 22, 2010
source: www
.cnplus.co.uk/news/middle-east/murray-and-roberts-confirms-cancellation-of-tameer-towers-deal/1996061.article]Murray & Roberts confirms cancellation of Tameer Towers deal | News | Construction News
Murray & Roberts confirms cancellation of Tameer Towers deal
27 March, 2009
South Africa’s Murray & Roberts Holdings has confirmed that its construction contract for the AED 6 billion ($1.6 billion) Tameer Towers project in Abu Dhabi has been terminated.
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The contractor broke the news in a filing on the Johannesburg Stock Exchange on 25 March.
Confusion over future of $1.6bn Tameer Towers
by Tom Arnold Thursday, 26 March 2009
DEAL UNCERTAINTY: Confusion reigns over the future of the $1.6bn Tameer Towers project in Abu Dhabi.
Confusion surrounds the future of the $1.6bn Tameer Towers project in Abu Dhabi after the managing director of Al Habtoor Leighton Group denied its joint venture construction contract had been terminated.
Murray & Roberts Holdings, a partner with the company on the project, announced to shareholders on Wednesday the contract for the development had been terminated.
But speaking to Arabian Business on Thursday, David Savage, managing director of Al Habtoor Leighton Group, said: “The client is looking at his contract structure and working out how to deal with it and work is slowing down.
We are holding back our team at the moment but it’s not officially terminated."
Al-Habtoor Engineering Enterprises, a division of Al Habtoor Leighton, had an equal share of 33 percent in the venture, worth about $528m, along with Murray & Roberts Middle East and Saudi Arabia's Al-Rahji Construction.
No one was available to comment from Tameer Holding Investment, the Dubai developer which awarded the contract in September 2008 with Abu Dhabi's Sorouh Real Estate.
Murray & Roberts said in a filing on the Johannesburg Stock Exchange on Wednesday, the South African firm said the termination would not have a material impact on its performance for the financial year to June 30, 2009.
The group said it had already identified current and future opportunities in the region that had the potential to replenish its forward order book.
It said the costs associated with work done to date would be recovered as stipulated in the contract.
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Tameer Towers project under consideration
March 24, 2009
Tameer Holding has informed the contractors appointed to build the Tameer Towers project in Abu Dhabi about it’s decision to cancel the contract, says MEED.
However the Sharja-based developer has not made any public announcement about the project’s cancellation. Rumours about delays from six months to one year are circulating among investors. Presumably the construction of the commercial tower will be put on hold for longer period of time.
The developer awarded the AED 6 bn ($1.6bn) contract in September 2008 to the joint venture of the local Al-Habtoor Engineering, South Africa’s Murray & Roberts and Saudi Arabia-based Al-Rahji Contracting.
The project is located on Reem island and involves building six towers between the sea and the Central Park area of the Shams Abu Dhabi development. The main buildings are a 74-floor, 300-metre-tall office tower in the commercial area, a 21-floor hotel and apartment tower, two 50-floor residential towers and two 30-floor residential towers. The total built-up area will consist of 915,000 square metres.
The US’ Hill International is the project manager and France’s Bureau Veritas is construction manager.
The project is not the first to be put on hold by Tameer, says MEED. In December 2008, the developer put its 125-storey Anara tower project in Dubai on hold. The building was to have been used as Tameer’s headquarters, and the developer had intended to use the development’s design as a blueprint to build tower developments in all major cities in the Gulf.
The tower was to be built on the site of the recently demolished Palm Hotel and the still existing Hard Rock Hotel on Sheikh Zayed road. The project involved the construction of a mixed-use tower, with serviced apartments, penthouses and a small retail area, in addition to the Tameer office space.
