Istithmar and IFA Hotels & Resorts appoint main contractor for the Palm Golden Mile in Dubai

IFA Hotels & Resorts and joint- venture partner Istithmar PJSC, a major Investment House, have appointed Al Shafar General Contracting as the main contractor for their Palm Golden Mile project.

The Palm Golden Mile is located along the centre of the trunk on The Palm, Jumeirah, in Dubai, and will include an international shopping, office and residential destination covering some 60,000 square metres. The Palm Golden Mile will offer a broad mix of luxury apartments, townhouses and penthouses, boasting prime waterfront living. The residential properties are located above what will be a premium shopping address in Dubai. The retail will comprise some 220 of the world's most upscale stores and restaurants, designer boutiques, outdoor cafes, luxury shops and formal dining eateries.

On a technical side, there are ten buildings within The Palm Golden Mile, and the bulk excavations, shoring and piling for buildings 7 to 10 are now complete. NSCC/Soletanche Bachy, were awarded the contract for specialist works worth Dhs 60.5 million, and have currently completed 3 kilometers of reinforced concrete retaining walls surrounding the site. They have also completed 900 bored piles through 20 meters deep of sand fill, previously placed by the dredging contractor whilst forming the Palm. The piles are anchored into the rock layer on the seabed. The basement  levels on buildings 7 to 10 are now being excavated and the dewatering equipment is reducing the seawater level inside the retaining wall by 9 meters.

Planned completion for the project is still on track for the 1st Quarter of 2008.

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