Mamsha Al Saadiyat progresses with construction work on site

ABU DHABI, 9th August 2016 (WAM) - The Tourism Development and Investment Company (TDIC), master developer of major tourism, cultural and residential destinations in Abu Dhabi, announced yesterday that the construction of Mamsha Al Saadiyat, the first residential development within the Saadiyat Cultural District, is well underway. The project was awarded in April of this year to a joint venture between San Jose Contracting and Pivot Engineering & General Contracting, following a competitive tendering process. The contract is valued at AED 1.25 billion and the project is scheduled for delivery in the second half of 2018. Sufian H. Al Marzooqi, TDIC’s Chief Executive Officer, said: "We are pleased to see that Mamsha Al Saadiyat, one of the most unique residential projects on Saadiyat, is progressing as per schedule. Given its prime location on the beach of the Saadiyat Cultural District, it continues to drive interest from investors, and because of that demand, we are looking forward to releasing more residential units to the market in the near future, with plans to start leasing retail and food and beverages space to the market in Q4 of 2016." Since the contractor’s mobilization to site in May of this year, works have kicked off in full gear. Today, construction work is under way on the project’s sub-structure. TDIC is closely monitoring the project’s development with targeted milestones on schedule such as the completion of the basement and podium levels by the first quarter of 2017. Amna Alalkeem Al Zaabi, Mamsha Al Saadiyat Project Manager at TDIC, said: "We are working very closely with our contractors to monitor advancement of work on the ground and ensuring it’s all done to the highest standards." - Emirates News Agency, WAM - http://www.wam.ae/en/news/emirates/1395298623220.html