Ishraqah for Development, a real estate development company owned by Al Zahran Group and Bin Mahfouz Group of Saudi Arabia, has awarded the AED687 million construction contract of the Onyx Towers to Arabtec Construction LLC a subsidiary of Arabtec Holding PJSC. The Onyx Towers project is a multi-purpose free-hold development located on Sheikh Zayed Road, next to Emaar Business Park. The project will be built on a 22,000 m2 land plot with a total built-up area of 202,800 m2. It will consist of 3 buildings, a 16-storey tower and a 25-storey tower with amenities, office and retail space, and a 14-storey, 4-stars business hotel, with 10 suites and 200 rooms. The project also features space efficiency with 36 high-speed elevators and optimum parking for 1920 cars. The three buildings will be linked via an interconnected podium area. The project management is assigned to Masharea, a multinational Middle East company. KEO International Consultants are responsible for the engineering and the supervision of the works. Abdullah Bin Mattar AlFalasi said “the large investment allocated to this project underscores our belief that Dubai's re-emergence must be supported by developments such as The Onyx, which create the optimum environment for busy executives.” Riad Kamal, CEO of Arabtec Holding, said “we are proud to be associated with the development of the Onyx project, which reconfirms our long-term belief and commitment to the United Arab Emirates construction market' and specifically Dubai.
