Contractors submit proposals for Dubai Properties framework agreements
17 January, 2018 | By COLIN FOREMAN
Dubai Properties has received proposals from contractors for framework agreements that will cover construction work on the local developers’ upcoming projects.
The proposed framework agreements will be used for a wide range of projects that vary in scale and include apartment buildings, villas, hotels and infrastructure.
Once a pool of firms has been selected, Dubai Properties will then select companies to work on individual projects when needed.
Consultants across a variety of disciplines are also signing up to framework agreements with Dubai Properties.
According to regional projects tracker MEED Projects, Dubai Properties has $230m of projects in the pre-execution phase together with $1.8bn of projects that are on hold and could be revived. The developer has $4.2bn of projects in the execution phase. Major projects Dubai Properties has developed in the past include Business Bay, Culture Village and Jumeirah Beach Residence.
The move to establish a framework agreement with contractors is a departure from the traditional method of tendering used by most developers in Dubai and highlights the growing risks that developers face when procuring construction services.
The supply chain has struggled with severe cash flow constraints due to late payment and certification in recent years and some firms are now unable to deliver projects.
Related Posts
Existing assets are being upgraded as the emirate grapples with the issue of over supply
The focus for companies engaged in Dubai’s oversupplied real estate sector is shifting from new projects ...
READ MORE
Commercial property landlords in the UAE need to offer greater flexibility to meet the needs of their tenants in the post-Covid environment, says leading real estate adviser Mashreq
Download the complete ...
READ MORE
The GCC’s real estate sector is entering a new phase of growth, shaped by shifting capital strategies, sustainability commitments, and evolving financing models. In this interview round-up, senior industry leaders ...
READ MORE
Increasing the role of the private sector can help alleviate pressure on state-led funding, while allowing more room for innovation in project delivery, says Mashreq Bank
More than $121bn ...
READ MORE
Ras al-Khaimah is all set to enter a new era of development, but with it comes capacity challenges to meet its real estate and leisure sector objectives
This article is the ...
READ MORE
Organisations in the UAE are beginning to see the value in adopting closed-loop resource systems
Key takeaways:
Governments and organisations are beginning to recognise the multi-trillion-dollar business value of circular economy ...
READ MORE
Zain Qureshi, Global head of real estate finance and advisory at Mashreq comments on the advancements in the sector
Regional impetus
The GCC real estate sector is experiencing sustained growth, driven by ...
READ MORE
The rapid response of governments and banks has sustained the economy through the lockdowns, but the Covid-19 crisis is creating new challenges for banks
Q&A with Roy Philip, senior executive vice-president and group chief credit officer, Mashreq ...
READ MORE
Mall owners and retailers recommend actions for a more sustainable and resilient retail sector in the UAE
Download your copy of the white paper here
The UAE Retail and Malls Think Tank ...
READ MORE
When Expo 2020 Dubai closes in April 2021, the site will be converted into a test bed for global innovation
Dubai plans to develop a new city on the 4.38 square-kilometre ...
READ MORE
Dubai’s real estate and construction sectors shift focus
UAE landlords must adapt to a changed market
Watch: Conversations shaping GCC Real Estate
Private sector essential to delivering GCC’s $121bn social
Ras al-Khaimah real estate counters growing pains
Circular economy reshapes business strategies in the UAE
Watch: The continuing evolution of GCC real estate
MARKET TALK: Keeping business going during the crisis
Think tank calls for action to boost retail
Dubai plans a lasting legacy for Expo 2020
17 January, 2018 | .By COLIN FOREMAN
