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
Regional tourism markets are slightly ahead of global peers as borders reopen for international travellers
The immediate business impact of precautionary measures against Covid-19 was felt most deeply by the tourism ...
READ MORE
Governments have been quick to cut spending after two years of launching stimulus projects
The big challenge for the region’s construction sector over the coming year will be dealing with the ...
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
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
Fnancial support, project investment and tourism are key factors for Egypt's recovery from the Covid-19 pandemic
Given it is the most populous Arab country, with 42,980 confirmed Covid-19 cases and 1,484 ...
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
Environmental, social and governance (ESG) principles are influencing investor decisions in the GCC real estate market, says Mashreq Bank
The Covid-19 pandemic has reiterated the need to address concerns surrounding ...
READ MORE
Concerns surrounding oversupply are taking a backseat as growing buyer demand coupled with rising interest rates poses a new set of challenges for premium property in Dubai
Dubai’s premium market ...
READ MORE
The emirate’s growing real estate sector can benefit from leveraging sustainable practices from the outset
This article is the fourth in a series that captures key highlights from the RAK Real ...
READ MORE
The easy option for new real estate committee is to control supply with fewer future projects, but that may not be viable
The committee formed by the UAE cabinet to implement ...
READ MORE
Middle East tourism economy readies to reopen
Cost cutting on stimulus projects is a paradox
Companies call for greater financing support from Covid-19
MARKET TALK: Keeping business going during the crisis
Egypt growth to continue with support
Think tank calls for action to boost retail
Sustainable finance shapes the future of GCC real
Shortages in high-end real estate loom for Dubai
Sustainability shapes Ras al-Khaimah real estate
Controlling real estate supply in Dubai requires delicate
17 January, 2018 | .By COLIN FOREMAN
