Interbeton bv - the operating company of Royal BAM Group nv, active outside Western Europe - has been awarded two contracts in the United Arab Emirates with a total value of more than € 86 million. The residential and office tower Park Place - with a height of 237 meter - will be realised for H.E. Humaid Bin Drai. The second project comprises the construction of an Ikea-outlet and a Hypermarket.
Both contracts will be executed by Higgs & Hill Dubai, the local subsidiary of Interbeton. Park Place will be in joint-venture with Arabian Construction Company (ACC) from Abu Dhabi.
Park Place is situated at Sheikh Zayed Road, the main artery of Dubai. The project comprises the construction of a residential tower of 61 floors (69,000 sqm), of which the lower eighteen floors are reserved for offices. The building, designed by Cox Architecture Planning Design of Australia, will be fitted with a special climate façade to limit the costs of energy for cooling the building. The project also includes the construction of a multi-storey car park (24,000 sqm), which will be connected with the tower by a 46 metre long steel structure bridge. The contract value amounts to €65 million, of which 50 per cent by Interbeton. The project will be completed at the end of 2006.
In Dubai Festival City - a new mixed development on the bank of Dubai Creek - Higgs & Hill will construct an IKEA outlet and a Hypermarket. The furniture department store - with a gross built area of 56,000 sqm - will be the second largest IKEA store in the Middle East. Through a wedge-shaped atrium the building will be connected with the Hypermarket, with a gross built area of 42,500 sqm. The contract value amounts to €54 million. In August 2005, Higgs & Hill will hand over the project to Dubai Festival City Real Estate Development.
Since the seventies Interbeton has been active in the United Arab Emirates. At the moment the operating company, also in joint-venture with ACC, is putting the finishing touch to the Conference Palace Centre in Abu Dhabi. As part of this very prestigious project, the joint-venture built two identical hotels for an amount of more than €150 million.