Al Habtoor initiates preliminary work on Emirates Financial Towers

SHARJAH — Al Habtoor -STFA Construction, one of the largest construction companies in the Middle East who were among ten companies short-listed for the position, officially signed the contract to commence piling work of the Emirates Financial Towers (EFT).

By Staff Reporter

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Published: Tue 27 Jun 2006, 7:38 PM

Last updated: Sat 4 Apr 2015, 1:13 PM

The total project budget is $150Million, the venture based in the Dubai International Financial Centre (DIFC) is one of many prestigious projects being constructed in Dubai's future financial hub and is being recognised as the signature development of the district.

The EFT officially received the land for the construction of their prestigious development from Turner Construction Company on behalf of the DIFC last month.

'It pleases me to make the announcement that we have officially taken over the site to start work on our project', said Hani Abu Auida, EFT Chief Executive Officer at a special ceromny for the signing of the contract. 'By having a well renowned firm such as Al Habtoor doing the piling work, I feel the project will be completed on time. The piling work is estimated to be finished within 6 months with the entire development completed in the 30 months since the first day of receiving the land. This follows the development rules laid out by the DIFC.'

He added, 'The strategic location of the project is one of the best benefits for choosing the DIFC. For residential and commercial development many large international companies have chosen this area because of its location, facilities and services that the environment provides.'

Investor interest in the Towers has been enthusiastic since the company unveiled the plans for its development last year. Emirates Financial Towers is intended to be a multi-use development that promises to offer 135 meters height and 25 floors of Grade-A office space, in a state-of-the-art and innovative design. Coalescing premier commercial and residential space, the architects of the stylish EFT structure have presented a unique design that features a distinctive elliptical profile with an embedded transparent sky bridge, allowing it to be particularly conspicuous on the Dubai skyline.

'With the project expected to be completed by the end of 2008, there has already been a huge demand for space within it.' said Abu Auida. 'The unique architectural design of the Emirates Financial Towers helps to exemplify what the Dubai International Financial Centre is about; this building is a symbol of the bold progress occurring in this part of the Middle East.'

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