Stromek Emirates Foundation, a subsidiary of M'Sharie, the private equity arm of Dubai Investments, has  been awarded a Dh10 million ($2.72 million) contract by Tameer Holding for work on the enabling and foundation works for the Palace Towers at the Dubai Silicon Oasis.

Stromek is ahead of the working programme and had completed more than 85 per cent of the piling, shoring, excavation and other related operations of the foundation work.
Ahmed El Adl Derbala, general manager, Stromek Emirates, said: “We are delighted to be part of such a magnificent project. The Palace Towers is envisioned to become one of Dubai’s iconic landmarks and Stromek will make sure that the enabling work will be up to standards to realise this vision. Stromek’s expertise and accumulated knowledge on the intricacies of high-profile projects have allowed us to win benchmark projects such as the Palace Towers. We hope to continue this partnership with Tameer’s other high-profile projects in the future.”
The Palace Towers will sit at the heart of Dubai Silicon Oasis, the world’s leading purpose-built, high-technology park for the microelectronics and the semiconductor industry. The Palace Towers will have 424 spacious residential spaces that offer sweeping views of the city along with contemporary layouts and designs that combine comfort with elegance. The Palace Towers also offers 150 high-tech office suites.
Stromek has a portfolio of over 450 successfully completed projects in the UAE.