Low Construction Costs to Speed Up Memon Projects

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, is committed to the ongoing construction of its projects, encouraged by the relatively lower costs of construction, in an attempt to ensure timely delivery and customer satisfaction, a top official of the company said. The company’s currently has a project portfolio worth Dh1.34 billion, which includes luxury residential projects Champions Towers series, Gardenia I & II, and Frankfurt Sports Tower I’; as well as its inaugural commercial tower. Cambridge Business Centre, or CBC. “The strong standing of the UAE in the construction market is an indicator of the capacity of developers of locally-based projects to proceed with the construction of launched projects amidst the challenges presented by the economic slump,” said Ahmed Shaikhani, Managing Director, Memon Investments.

“As one of the leading players in the Dubai property market, we leverage our extensive industry expertise and strong financial backing, thereby enabling us to proceed with unhindered construction works on our flagship projects.” According to a Press statement, construction on the four towers under the Champions Tower banner are progressing at an impressive pace, with various important contracts already been awarded to a number of top contractors, including leading MEP companies as well as companies that specialise in elevator and air-conditioner installation. Moreover, construction of eight of the 10 floors within CBC has been completed, with initial steps already being made in preparation for the scheduled handover of the project to investors by the fourth quarter of 2009. The company also previously announced that it is fast-tracking the construction of Gardenia I & II and Frankfurt Sports Tower I, in line with aims to hits their respective delivery deadlines.