Aakar Developers Limited has awarded International Foundation Group (IFG) the shoring and piling contract for the construction of the Canada Business Centre (CBC) Tower.

The commercial tower centrally located in Dubai Business Bay is due for delivery in December 2008.
The contract awarding for the company’s first development project in the UAE follows the completion of soil investigation by Al Hai Al Mukaddam and the plot handover by Business Bay authorities.
The contract was signed by Yadvinder Singh, CEO, Aaakar Developers and Dr Khalil Charif, managing director, IFG.
Under the terms of the contract, IFG will commence foundation works involving shoring and piling excavation using its high-rated piling systems, concrete diaphragm walls, excavation support and earth retention systems.
The company has appointed a team of industry professionals comprising of site managers, project engineers and supervisors to ensure the completion of the first phase goes according to the schedule set by Cansult, the design and project management consultants for the project.
CBC Tower offers occupants work and lifestyle spaces with its 19 floors of offices in addition to 7,500 sq ft of retail space, fitness amenities (gymnasium, steam room, rooftop pool, and Jacuzzi), food courts, shopping boulevard and a six-level parking facility. The commercial tower also boasts of state-of-the-art conference rooms and business facilities.
In a separate development, at the Business Bay, Deyaar has announced the launch of its new office tower – Fifty one @ Business Bay – with a project value of over Dh300 million ($81.67 million).
Prominently located, Fifty one @ Business Bay will have extensive views of the lake and the island, a landscaped area, as well as proximity to Burj Dubai, the world’s tallest tower.
The 21-storey tower will offer 164 office spaces.
Arex has been appointed as the design consultant for Fifty one @ Business Bay. Construction is expected to commence in the current year and the project is scheduled for completion in the third quarter of 2009.
Fifty one @ Business Bay will feature a landscaped area and lavish retail spaces, comprising a shopping arcade and coffee shops. The tower will have a lobby, spread over 3,238 sq ft, and state-of-the-art amenities, making it one of the finest addresses on Business Bay, says Nasser Al Dabal, executive vice president of Deyaar.
Meanwhile, another developer Tameer Holding has signed a Dh211 million ($57.45 million) contract with Al Arrab General Contracting for the construction of The ‘Regal Tower 1’ also at the Business Bay.
The deal commissions Al Arrab General Contracting to build a ground floor plus 32-storey commercial tower, with a total area of more than 784,000 sq ft.
This deal highlights the diversity of Tameer’s property development portfolio, which includes the all-commercial ‘Regal Tower 1’ that offers office spaces designed for commercial usage.
The tower has around 258 state-of-the-art offices available for customers through freehold ownership, one recreation floor and three basement levels, in addition to retail and commercial outlets, making it the best choice for businessmen and companies due to its convenient location at the heart of Dubai’s business district, as well as its unique design.
‘The Regal Tower 1 project has moved a step forward, which enhances Tameer’s commitment to translate what it first announced into a growing reality,’ said president of Tameer Holding Omar Ayesh.