Dubai-based developer Omniyat will award more than $544m (AED2bn) worth of contracts by the end of 2018, the company’s chief executive revealed.
The developer currently has two tenders in the market valued at over $272m (AED1bn) and will be tendering a further two buildings, one small and one large, by next year, Mahdi Amjad, founder and CEO of Omniyat told Construction Week on Tuesday during the Cityscape event in Dubai.
More than $544m in construction contracts will be awarded “between now and the end of next year” for mixed use and hospitality developments across Dubai, he added.
The latest project to be awarded is a $191m (AED700m) contract for a mixed use development on the Dubai Canal, located adjacent to the Dubai Mall. The project will include residential, hospitality, serviced apartments, and a retail component.
The enablement work contract is already complete and the main contract is in tendering stage to be awarded in November, said Amjad.
“[Omniyat] has been looking at mid-level hotels as well, and we will consider the right location for them soon.”
Ominyat will be launching more projects in the next year and will be awarding more main and sub contracts for these projects soon.
“We have a lot of packages to be awarded along with many sub packages, so we encourage subcontractors to contact Omniyat as all contracts are awarded by [the developer].”