Al Adnan Contracting secures $163m construction contract from Tanmiyat

Saudi Arabia’s real estate development firm Tanmiyat has awarded an AED600m ($163m) construction contract in Dubailand to the UAE-based construction company Al Adnan Contracting.

According to the deal, Al Adnan Contracting will be responsible for constructing six towers, which will be part of the Tanmiyat’s Living Legends project.

The six towers are slated for completion by next year.

Developed by Tanmiyat, Living Legends is an AED7bn ($1.9bn) gated community project that has been designed to accommodate nearly 20,000 people.

“The new appointment is another milestone that shows our commitment to delivering our projects in the UAE.”

The project includes 500 villas, 12 residential towers, school, golf course, hotel, shopping mall and many other amenities that are still in the design phase.

Tanmiyat is reported to have so far completed construction and delivered 500 villas, and is planning to deliver the Hercules tower, along with two additional towers, by the end of this year.

Tanmiyat management board spokesman Abdulazizi al Majed was quoted by various media sources as saying: “The new appointment is another milestone that shows our commitment to delivering our projects in the UAE.

“We have made minor changes to the buildings’ façade, matching the market trends and bringing more attractive designs to our clients.”

The Saudi Arabian real estate development firm appointed Delta International Real Estate as the commercial partner for managing commercial operations.

Delta International Real Estate CEO Saleh Tabakh said: “The market is healthy and this competition forces developers to go the extra mile to satisfy the expectations of clients. The reasonable prices units in Living Legends do not compromise on the units’ size, which are considered the biggest in the current market.”