Asico Secures Contract for AED 90mln Sama Al Jaddaf Project in Dubai
Deal News | Jan 29, 2025 | Zawya
Asico, a subsidiary of Al Suwaidi Investment, has successfully secured the contract for the design and supervision of the Sama Al Jaddaf project in Dubai. The AED 90 million residential development, located in the Al Jaddaf area, will feature 108 units across a 157,441.04 square foot building. Offering a combination of studio, one-bedroom, and two-bedroom apartments, the project aims to enhance the residential appeal of the area. Amenities include a semi-Olympic swimming pool and a gym. Mr. Ahmed Mohd Saif Bukhazmia Al Suwaidi, Chairman of Al Suwaidi Investment, emphasized the company's commitment to quality in premier locations. Asico's involvement underscores its approach to sophisticated project management. Al Suwaidi Investment's legacy in Dubai's economic landscape, spanning real estate to hospitality, demonstrates a commitment to growth and partnership.
Sectors
- Real Estate Development
- Construction
Geography
- United Arab Emirates – The article centers around a real estate project in Dubai, UAE.
- Saudi Arabia – The project owner, Mr. Abdelkarim Al Sayyar, is a renowned Saudi businessman.
Industry
- Real Estate Development – The article focuses on a significant residential development project secured by Asico in Dubai.
- Construction – Asico's role involves overseeing the design and construction of the Sama Al Jaddaf project.
Financials
- AED 90 million – The total value of the Sama Al Jaddaf residential project in Dubai.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Asico | Developer | Company | Subsidiary of Al Suwaidi Investment, tasked with the design and construction supervision of Sama Al Jaddaf. |
| Al Suwaidi Investment | Parent Company | Company | Parent company of Asico, engaged in diverse sectors including real estate in Dubai. |
| Abdelkarim Al Sayyar | Project Owner | Person | Saudi businessman and owner of the Sama Al Jaddaf project. |
| Ahmed Mohd Saif Bukhazmia Al Suwaidi | Chairman | Person | Chairman of Al Suwaidi Investment. |
| Wail Abualhamail | Director of Real Estate | Person | Director at Asico overseeing the project management of Sama Al Jaddaf. |