The bank’s liquidity profile remains strong as evidenced by an advances to stable resources ratio of 76% and an eligible liquid asset ratio of 16%, both comfortably above regulatory thresholds
The awarding of the contract was approved in a board meeting held recently and chaired by Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA.
Al Tayer said the project echoes RTA’s keenness on improving internal roads network to cope with the requirements of demographic and urban expansion in the emirate, and live up to its vision of providing safe and smooth transport for all.
“This project is part of the Five-Year Plan (2012-2016) endorsed by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, for paving internal roads in a number of Dubai residential areas at a total cost of about Dh1 billion. Phase I of the Plan covers five residential areas namely Hatta community, Al Qusais 3 and Al Quoz 2, 3 and 4,” explained Al Tayer.
“The Internal Roads Project at Al Quoz 3 and part of Al Quoz comprises the construction of roads extending 9km with 7-metre wide collector roads, and 6.5 metre-wide local roads along with roadside parking slots measuring 2.5 meters in width. The project also includes lighting works, storm-water drainage services, traffic signage and road marking. Works in the project, which has been awarded to Wade Adams Company, will start by the end of this month and will take 300 days to complete.
“Last May, the RTA awarded three contracts for construction of internal roads. The first contract covered the construction of internal roads at Al Qusais 3 at a cost of Dh23 million, comprising the construction of 6km-long roads. The second contract covered the construction of 8km-long roads at Al Quoz 4 at a cost of Dh15 million and the third contract covered the construction of internal roads at Al Warqa 1, 2, 3 and 4 at a cost of Dh156.631 million.
The contract covers the construction of 89km-long roads, and improvements on existing roads extending 36km, in addition to the construction of roadside parking slots, parking works for some mosques and public schools in the area, and all necessary road works such as road marking, and traffic signals,” elaborated Al Tayer.
The 5-Year Plan (2012-2016) for Construction of Internal Roads at Residential Districts in Dubai Emirate, which has been endorsed by Shaikh Mohammed, covers the construction of internal roads in about 16 areas where urbanisation ranges from 20 to 80 per cent, though drops in some areas to as low as five per cent.
The bank’s liquidity profile remains strong as evidenced by an advances to stable resources ratio of 76% and an eligible liquid asset ratio of 16%, both comfortably above regulatory thresholds
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