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.

Unlocking green finance for Dubai real estate

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, ...

UAE firms steer towards net-zero future

Decarbonising supply chains requires concerted efforts from governments and businesses alike Key takeaways: The inaugural MEED-Mashreq Business Leaders Forum on 31 January highlighted the importance of reducing supply chains’ carbon ...

Egypt growth to continue with support

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 ...

Hyperlocal services unlock new real estate market

The rise of e-commerce and the need for the rapid delivery of online purchases is creating new opportunities for Dubai real estate developers Real estate developers and landlords in Dubai should ...

Middle East risk is an international problem for contractors

Carillion is the latest international firm to report problem projects in the region Before the London Stock Exchange opened for the week on 10 July UK construction company Carillion issued a trading ...

Dubai investors seek quality real estate stock

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 ...

CONNECT SERIES: A new model for hospitality

On 23 May, Abu Dhabi’s Department of Culture issued guidelines to hotels in the emirate for the reopening of restaurants, bars, beaches, pools and gyms. The announcement marked the start of ...

Case Study: Palm Jumeirah- Redefining real estate development

Completed in 2008, Palm Jumeirah stands out as one of Dubai’s most iconic real estate developments. The palm-shaped archipelago stretches over 560 hectares of reclaimed land and is now home ...

Gulf Projects Index continues to decline

Six of eight tracked regional markets note downward movement amid tightened cash flow Data shows value of projects planned or under way ($bn) Six of eight markets tracked by the Gulf Projects ...

The long summer ahead for GCC contractors

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 ...