Mar 18 2006   | Source: Press Release 

Deyaar appoints Al Shafar for its Citadel project

Deyaar, one of the UAE's largest diversified real estate companies, has announced the appointment of Al Shafar General Contracting as the main contractors for its premium commercial tower, The Citadel which is to be developed in the upscale Business Bay, Dubai's new business cluster.

Al Shaffar Contracting beat six other competitors to bag the deal, following a thorough scrutiny of its tender bid. The project is set to be completed within a 23-month deadline.

Zack Shahin, Chief Executive Officer of Deyaar said: 'Located along Dubai's growth corridor, The Citadel is one of our prestigious projects that will be home to major players in the corporate world, allowing businesses to function optimally with all necessary infrastructure amenities. We are confident that Al Shaffar's involvement in the project will ensure its completion as per schedule, and help Deyaar live up to its reputation as a company that understands, appreciates and caters to all customers' needs.'

Strategically located at Business Bay, The Citadel sits amidst Dubai's World Trade Centre, the Dubai Financial Centre, luxury hotels and resorts. With next-generation facilities and an unmatched inspiring ambience, the tower will offer spacious conference rooms, a plush business lounge, a well appointed business centre with state-of-the-art facilities and convention halls with a total area of 3,970 square feet.

Emad Azmi, Managing Partner of Al Shaffar General Contracting Company said: 'We feel proud at being chosen as contractors for Deyaar's premium The Citadel tower and we will use the engineering expertise, thoroughness and high quality standards that we are known for in the construction field, to execute the project within the scheduled time frame.'

The Citadel will also offer a host of ultra-modern facilities such as a 24-hour manned security system, intelligent light control systems (motion sensors) for public areas, emergency lighting system, voice and data systems, high speed Internet connectivity, closed circuit TV system (CCTV), public address/background music system (PA/BGM), access control system for data exchange, and an exclusive shopping arcade with a luxury coffee shop.

Launched in 2002, Dubai-based Deyaar is a wholly owned subsidiary of the Dubai Islamic Bank. With a capital base of AED 500 million, it is one of the most successful real estate companies in the UAE. The company also manages over 16,000 residential and commercial units across 700 buildings in the UAE that generate over AED 300 million of rental income for property holders, and provides leasing, maintenance and brokerage services for residential and commercial properties.

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