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
How investment in rail is transforming mobility in the Middle East
The story of rail could not differ more across the region. In North Africa, nations including Algeria, Morocco and Egypt ...
READ MORE
Governments need to invest in developing local talent and deploy innovative strategies to create a competitive tourist sector, says Mashreq Bank
The GCC’s tourism sector could face a shortfall ...
READ MORE
Enforcement of awards has become a key issue as arbitration becomes a more popular method of resolving disputes
Attitudes to dispute resolution are changing in the UAE, particularly since the launch ...
READ MORE
Real estate players in Abu Dhabi emphasise the need to balance Abu Dhabi’s property sector to ensure long-term sustainability
This article is the third in a series that captures key highlights ...
READ MORE
The commercial impact of Covid-19 has dramatically changed the banking needs of companies in the UAE, says latest briefing from Mashreq Bank
Download the complete media briefing here
Over half of ...
READ MORE
Ever since the global financial crisis hit the region in 2008, real estate developers in the UAE have been exploring alternative funding methods to deliver their projects.
Export credit funding backed ...
READ MORE
As demand for data centres accelerates, diverse investor groups are taking notice
Globally, total investment in data centres reached $70.6bn in 2024 and this is projected to grow by 5% to ...
READ MORE
A lack of incentives is limiting the development of green financial instruments in Dubai’s real estate sector
While environmental, social and governance (ESG) considerations are a priority for many investors today, ...
READ MORE
The Covid-19 crisis could not have come at a more difficult time for many traditional retailers in the UAE
Already facing challenges from the rise of online shopping and a growing ...
READ MORE
Standardised construction contracts in the UAE could help to tackle delays and cost overruns on projects
UAE construction sector significantly impacted by Covid-19 pandemic
Construction industry think tank outlines 26 ...
READ MORE
Workforce shortages could hamper GCC tourism growth
UAE arbitration process faces challenges
Balancing real estate supply and demand in Abu
Companies call for greater financing support from Covid-19
Export credit works both ways
Investment potential of the data centre economy continues
Unlocking green finance for Dubai real estate
CONNECT SERIES: Supporting retail through the Covid crisis
UAE Construction Think Tank recommends adoption of standardised
17 January, 2018 | .By COLIN FOREMAN
