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Memon Awards Contract to OST Constructional Projects

DUBAI - Memon Investments, a leading Dubai-based property developer, announced that it has awarded a Dh65 million construction contract to OST Constructional Projects LLC,

for its Dh339 million ‘Frankfurt Sports Tower I’ project in Dubai Sports City. Present at the signing ceremony were Rizwan Shaikhani, Joint Managing Director, Memon Investments; Eng. Mahmoud Al Kayem, Managing Director, OST Constructional Projects LLC and Abdul Hamid Mohd Ali Mhoma, Managing Director, Al Hatmy Design & Engineering Consultancy, where it was also revealed that the themed residential development is expected for completion by fourth quarter of 2011.

With the shoring and excavation phase already finished, the contractor has started preparing for the actual construction works, and is currently in the process of selecting and appointing competent sub-contractors to collaborate with for the project. The new contractor has expressed its commitment towards leveraging the company’s over a decade-long experience in the construction industry to ensure that all expectations for the project are met. ‘FST I’ is a B+G+14 floors building designed by Al Hatmy Design & Engineering Consultancy, and will comprise 224 units.