#PROJECT: THE CORNICHE PROJECT / NATION TOWERS

[Abu Dhabi Leaders]

A joint venture between Dubai-based Arabtec Construction and Abu Dhabi-based National Projects and Construction (NPC) has been awarded the US $436 million (AED1.6 billion) main construction contract for the Nation Towers project on the Abu Dhabi corniche.

The mixed-use project is being developed by Abu Dhabi-based private investment firm International Capital Trading (ICT).

The total value of the development has slid from estimates made last year by ICT of $762 million to $545 million, a fall of almost 30%, ICT COO Haythem Haidar revealed at a press conference and ground-breaking ceremony held this morning.

The fall in value comes as a result of the steep decline in building costs, itself a result of the GCC-wide construction slowdown.

Hamad Al Shamsi, CEO of ICT said the developer has already secured the necessary funding for the project through a consortium of banks, including Abu Dhabi Commercial Bank and the National Bank of Dubai.



Both Arabtec CEO Riad Kamal and NPC general manager Paul Majoor said they hoped working on the Nation Towers would pave the way for the joint venture to pursue further contracts.

“We like to think that at the end of the project both companies will have benefited from the marriage and we will hope to collaborate on further projects in the future,” Kamal said.

Majoor said, “A project such as Nation Towers comes along very rarely. It serves as a reminder of the strength that the Emirate of Abu Dhabi has shown in these wretched times.”

Nation Towers includes two buildings comprising a 64-storey residential tower, a 50-storey hotel and office tower and a retail podium. The two towers will be connected by a sky bridge at the 48th level.

The site will also feature an underground tunnel beneath Abu Dhabi corniche linking the towers to a beach club.

US-based Hill International is project manager. Roya International, WZMH Architects, and KEO International Consultants will all play consultancy roles.

Kamal compared the project to Emirates Palace Hotel, which Arabtec worked on a decade ago. “We thought that was the most challenging venue along the Corniche in Abu Dhabi,” he said.

“However, about a year ago when we first learned about the Nation Towers, we made sure that we did everything we could do to play a hand in the project.”

Kamal added that the Nation Towers would be “another icon, and another feather in our hat.”


http://www.constructionweekonline.co...tract/1/print/

[jader3283]

They set up new billboards and fencing today.

[Adam2707]

We have two threads for this.
http://www.skyscrapercity.com/showthread.php?t=596238

[Adam2707]

21st Nov

Core rising..

[InDesign]

Originally Posted by Adam2707

We have two threads for this.
http://www.skyscrapercity.com/showthread.php?t=596238

Oops, not a valid link))
Has anyone got some pics from the site?

[Adam2707]

8th January

[Adam2707]

January 16th

[tatoalac]

Nation Towers last December 2009..

I was taking a shot on the green tree..sorry#@$! with backgrounds Nation and Etihad Towers

[Adam2707]

Don't worry about it. Better than nothing.

30th Jan.


Link

[tatoalac]

Been there today...moving fast

[Javier.med.qqta]

omg Abu Dhabi is rising!!

[Adam2707]

These are moving incredibility fast..

10th April

Taken by Peter - http://picasaweb.google.com/prtaylor...83569088179442

[Imre]

ICT TO HAVE ST.REGIS HOTEL AT NATION TOWERS

Uniquely Located on Abu Dhabi’s Corniche,The St. Regis Abu Dhabi will be within the Nation Towers Development



Abu Dhabi – [17] April 2010 – International Capital Trading announced that its luxury development on the Corniche Nation Towers will have a St Regis Hotel. The news comes as the construction of the two towers is gathering pace.

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) has extended its development pipeline in the Arabian Gulf with the announcement of a second St. Regis hotel in the capital of the United Arab Emirates.

The St. Regis Abu Dhabi, will be located on the Corniche in downtown Abu Dhabi as part of the Nation Towers mixed-use development. Located at the top of one of the towers beginning at the 33rd floor, the hotel will feature 281 luxurious guest rooms, including 56 suites, signature restaurants, a connecting bridge restaurant, more than 4,800 square meters of ultra modern meeting and event space and over 3,000 square meters of dedicated health club with an outdoor swimming pool. Guests will also enjoy a beach club adjacent to the hotel which will also be operated by Starwood.

Owned by International Capital Trading, The St. Regis Abu Dhabi will dominate the Abu Dhabi waterfront offering extensive views over the Gulf in a location that is both central to the business district and directly on the Corniche. Located just a short drive from the recently opened F1 circuit, Ferrari museum, Gary Player-designed golf course and the Louvre, Guggenheim and Maritime museums, The St. Regis Abu Dhabi will provide an entrance into a captivating world of opulence offering a unique expression of its location.

The St. Regis Abu Dhabi is Starwood’s fifth project currently in development in the Middle East, including The St. Regis Doha, The St. Regis Bahrain, The St. Regis Hotel & Residences Dubai, and The St. Regis Hotel & Residences Sa’adiyat Island, the latter representing the brand’s resort debut in Abu Dhabi.

Mr Hamad Abdulla Al Shamsi, Chief Executive Officer of ICT said “ ICT is proud to partner with the St Regis brand for its flagship development on the Corniche of Abu Dhabi. The signing marks another milestone for ICT who announced last year the award of the construction contract for the project. The combination of ICT’s prime location Nation Towers development together with the world class St Regis brand will provide arguably an unique luxury hospitality experience in Abu Dhabi”

Original pic and full text here:

http://dubaiconstructionupdate.blogs...bu-dhabis.html

[Adam2707]

[UAE'er]

Originally Posted by Adam2707

These are moving incredibility fast..

10th April

they are keeping up the pace

as of September, I would say they are about 60% to being toped out, with cladding well in progress, glass reaching approximatly 20th floor. the podium is well in progress as well. will post picture updates as soon as I get a new Camera ~__~

Arabtec is doing a great job.

[Project Director]

..




PD.

[saviboy]

Originally Posted by UAE'er

they are keeping up the pace

as of September, I would say they are about 60% to being toped out, with cladding well in progress, glass reaching approximatly 20th floor. the podium is well in progress as well. will post picture updates as soon as I get a new Camera ~__~

Arabtec is doing a great job.

hi any idea when these will be released to owners/ buyers?
thanks

[ahmado]

anybody knows what the project manager name in this project? i have tryed to call him or to book an appointment with him, but i came to no where.

Please help

[m-man]

Pictures of Nation towers today.

[Bu Maitha]

Today 19 Mar 2011