UAE-based Pantheon Development said work was progressing well at its Pantheon Elysee, an affordable luxury development located in Jumeirah Village Circle (JVC) in Dubai.
Signalling a major milestone, the developer said nearly 12 per cent of the structural work had been completed, while work related to Mechanical, electrical and plumbing (MEP) stood at three per cent completion.
Pantheon Elysee is the second project in JVC for the Pantheon Group, following the successful launch of Pantheon Boulevard at District 13.
The UAE-based firm has offices in Latin America, Far East and India with an annual turnover of more than Dh1.2 billion ($325 million).
Group Founder and Chairman Kalpesh Kinariwala, while expressing delight at the progress of the project, said:
"We are pleased that the work for Pantheon Elysee is well on track. As an organisation, delivering on time has been our distinguishing factor, which has led customers to trust in us."
"Given the way the project is shaping up, we are confident that the tenants will be able to move to their residential and retail units by end of 2020," he noted.
Kinariwala said the UAE’s construction and realty sector were experiencing a dramatic shift, with affordable luxury forming the next level of demand.
"The new trend will accelerate further growth of the sector, consolidating the UAE’s position as a construction and realty giant on the global map," he noted.
Pantheon Elysee, the $49 million project consists of 268 residential units and retail outlets, with CJTech Contractors being appointed as the contractor on the project, as well as Al Khawajah Engineering Cosultants serving as the project consultants.
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