South Korean builder Ssangyong Engineering & Construction (Ssangyong E&C) said it has won a contract worth KW200 billion ($168 million) from UAE-based wasl Asset Management Group for the construction of a 44-storey residential building, Dubai 1 Residence, within its key community development project in Dubai.
The Dubai 1 Residence, located at the Al Kifaf development, the most central residential area tucked between Etisalat Building and Zabeel Park, Dubai, comprises two towers within the Wasl 1 development.
The first tower, located on plot 4, has a total built-up area of 101,569 sq m, while the second tower boasts a built-up area of 96,103 sq m.
Each of these towers is shaped like the number '1' that face each other, and the 36th to 42nd floors above the ground are connected by a link bridge, said the statement from Ssangyong E&C.
In addition to residential facilities, amenities such as swimming pools and parks, apartments
podiums and parking space will be built.
Ssangyong E&C said the project is likely to be completed within the next three years.
The Korean builder said this is in continuation of its strategic collaboration with Wasl in several other projects including the development of Andaz, a luxury hotel brand affiliated with Hyatt, in July last year.
In addition to the Dubai contract, Ssangyong E&C also won a $198 million order from Equatorial Guinea for the development of its Bata International Airport. The company had previously built terminals and other offices buildings in the central African nation.
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