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
The region’s construction sector is undergoing great change, as contractors shift their focus to exploring new sectors and geographies
After five years of being propped up by projects in Dubai, the ...
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
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
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
Abu Dhabi has put the foundation in place to become a global hub for real estate investments
Abu Dhabi has embarked on an ambitious programme to attract private and foreign investment ...
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
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
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
Lowered productivity during the second and third quarters of 2020 will add to the financial pressures faced by builders in the region
The GCC’s construction industry could face extreme time and ...
READ MORE
Planning for a year of transition in construction
Sustainable finance shapes the future of GCC real
Dubai investors seek quality real estate stock
Balancing real estate supply and demand in Abu
Abu Dhabi Real Estate on the Rise
Workforce shortages could hamper GCC tourism growth
Private sector essential to delivering GCC’s $121bn social
Think tank calls for action to boost retail
The long summer ahead for GCC contractors
17 January, 2018 | .By COLIN FOREMAN
