trending Market Intelligence /marketintelligence/en/news-insights/trending/r8e5x-fnkgvjqxiypgcafa2 content esgSubNav
In This List

Emaar awards 1.2B-dirham contract to China State Construction for Dubai project

Blog

Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Emaar awards 1.2B-dirham contract to China State Construction for Dubai project

Emaar Development PJSC awarded China State Construction Engineering Corp. Middle East with a 1.2 billion United Arab Emirates-dirham contract to build its Downtown View II project in Dubai, Construction Week Online reported.

The Chinese state-owned contractor will construct the development's three high-rise residential buildings that will comprise 1,509 units, a partial basement level, four floors of podium parking, a ground-floor retail unit and mechanical, electrical, and plumbing rooms as part of the agreement, according to the report.

Construction Week added that it reached out to both parties regarding the contract, which was awarded days after China State Construction won a separate 512 million-dirham deal from Damac Properties Dubai Co. PJSC for the construction of a residential building forming part of the Dubai developer's 7 billion-dirham, six-tower Aykon City project in downtown Dubai.

As of Sept. 6, US$1 was equivalent to 3.67 UAE dirhams.