ALEC Awarded AED 4 Billion of New Contracts in Last Three Months

2015-02-16

Abu Dhabi – February 16, 2015 — ALEC, a subsidiary of Al Jaber Group, has been awarded approximately AED 4 billion of new projects in the last three months. These project awards reflect the ongoing success of Al Jaber Group and its subsidiary companies and our reputation as one of the Middle East’s leading construction, engineering and logistics companies.

ALEC’s recent project awards include:

The Residences at Marina Gate development in Dubai, UAE: ALEC will be collaborating with its Related Businesses, ALEMCO (MEP business) and ALEC FITOUT, on the first two towers of this development, recently awarded by Select Group, one of Dubai’s largest property developers. The contract value is approximately AED1bn. The development consists of three high-end residential towers in total including a retail area and stands at the gateway to Dubai Marina. The construction of the first tower, Marina Gate I, is planned to commence in the first quarter of 2015.

Dubai Festival City, UAE: ALEC was recently awarded the second phase of the Dubai Festival City Mall extension, Project Salsa 2 in Dubai by Al-Futtaim Group Real Estate (AFGRE). The contract value is approximately AED600 Mil. Total project area is 73,500m2 including demolition works with the construction period being 16 months. ALEC are also completing one of Al Futtaim Groups other flagship malls, Doha Festival City in Qatar, due for completion in 2016.

Bvlgari Resort Hotel & Marina Village, UAE: This project is located off the coast of Jumeirah Beach Road and will feature a distinguished 5 star mixed-use development, sculpted in the shape of a titanic seahorse featuring retail, residential, hospitality and entertainment zones. ALEC were awarded the contract with approximate value of AED1.4bn by Meraas Development.

Bluewaters Wharf Retail Project, UAE: ALEC was recently awarded the AED1.2bn Wharf Retail Construction Works for the new Bluewaters development in Dubai, by Meraas Development. Bluewaters is located off the Jumeirah Beach Residence (JBR) coastline and will feature demarcated retail and entertainment zones situated adjacent to the star attraction of the Dubai Eye.

H.E. Obaid Khaleefa Al Jaber Al Murri, Chairman of Al Jaber Group said “These contract wins reinforce Al Jaber Group and ALEC’s position and reputation as one of the leading construction companies in the Middle East”.

ALEC have also recently been recognised as Contactor of the Year, receiving the accolade for the third consecutive year by the leading GCC construction publication, Construction Week. This as well as receiving Contractor of the Year by Big Project ME, for the second year running.

Mr Kez Taylor, CEO of ALEC said “ALEC is pleased to secure these important projects and awards which further reinforce our capabilities and experience in the UAE market”.