Kuwait-based Al Osaimi Group and Al Properties have signed a contract to construct a Dh800 million tower in Downtown Dubai.
The tower will have 47 floors, each with 8 different sized units. Burj Khalifa will supervise the tower’s construction.
Majed Al Osaimi, chairman of Al Osaimi Group, stated that the company owns 10% of the residential tower’s capital. The company will act as the exclusive seller of the apartments in Kuwait, which will be available for sale in 2019.
Al Properties specializes in buying, selling and leasing real estate approved in the United Arab Emirates.
On the other hand, Emaar Properties floated a tender for the construction of a new tower under the name of “Title Residence Dubai Opera” in the center of Dubai. The company also recently signed to build a “Grand Opera” contract with “Consolidated Contractors” company worth Dh500 million.