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
The pandemic will accelerate job losses in the UAE and beyond
The Covid-19 pandemic will catalyse the shifting labour dynamics in the UAE, where reduced real estate demand and low market ...
READ MORE
The pandemic has changed the requirements for the office of the future
Watch the webinar here
One year on since office workers across the world were sent home to help prevent the ...
READ MORE
Supply and demand imbalance is resulting in less office space being built and property owners offering tenants generous incentives
Dubai’s office market continues to be oversupplied, resulting in less office space ...
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
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
Post Covid-19 recovery has long legs as market dynamics remain positive for the property sector across asset classes and emirates
Off-plan sales are driving new projects as existing stock does ...
READ MORE
CEO of Arzan Investment Management, Oliver Hogg, comments on how the asset class provides developers with alternative funding solutions and greater flexibility in capital structuring
Download the full case study
An icon ...
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
This article is a part of a series from the Dubai Real Estate Forum held by MEED and Mashreq on 22 March in Dubai
Global alternative investment firms are keen to ...
READ MORE
Clients are struggling to get competitive pricing on large, technically challenging projects
Disagreements over terms and conditions between contractors working on the Tower at Dubai Creek Harbour scheme and the project owner ...
READ MORE
Project disruption threatens construction jobs
New priorities for the post-Covid workspace
Oversupply continues to challenge Dubai office market
Watch: Conversations shaping GCC Real Estate
Ras al-Khaimah real estate counters growing pains
Sustained recovery: Positive outlook for UAE real estate
Watch: The rising prominence of private debt in
Balancing real estate supply and demand in Abu
Dubai investors seek quality real estate stock
Strained market conditions mean contractors are shying away
17 January, 2018 | .By COLIN FOREMAN
