UAE-based developer Select Group has appointed China State Construction Engineering Corporation Middle East (CSCEC ME) as the contractor for the first phase of its latest waterfront project Peninsula located in the heart of Business Bay.
The enabling works on Peninsula One are currently underway and anticipated to be completed by January 2022. The main construction works will commence in Q1 2022, while both developments are expected to complete by Q4 2024.
CSCEC ME was chosen by Select Group due to its extensive and exceptional track record, as well as its firm commitment to its core values of quality, safety and reliability.
With an estimated contract worth of $171.2m (AED629m), the construction group is set to kick-off phase 1 works of the mega-waterfront project in January 2022.
Commenting on the appointment, Rahail Aslam, Founder and CEO of Select Group, said: “Our partnership with CSCEC ME demonstrates our commitment to excellence. The appointment of a contractor like CSCEC ME is a further testament to our focused strategy of working with only the best-in-class partners, seamlessly aligning with our core pillars of delivering market excellence.”
The initial phase of the Peninsula waterfront development comprises of three separate residential developments, including high rise towers and low-rise waterfront residences, meticulously blending into the first community-focused residential master development in Business Bay.
Commenting on the contract win, Yu Tao – President and CEO of CSCEC ME said: “We are delighted to be leading the first phase of construction of the Peninsula development. We look forward to working with Select Group to bring this exceptional project to fruition.
We are confident that we will contribute to the excellence of Peninsula, further strengthening Select Group’s position as a leading real estate and property developer in the region.”
With 518 individual units, Peninsula One caters to an array of preferences in a single community.
Anchored by a 36-storey residential tower, Peninsula Two comprises 439 units tailored to contemporary living.
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