Contractors submit proposals for Dubai Properties framework agreements
17 January, 2018 | By COLIN FOREMAN
Dubai Properties has received proposals from contractors for framework agreements that will cover construction work on the local developers’ upcoming projects.
The proposed framework agreements will be used for a wide range of projects that vary in scale and include apartment buildings, villas, hotels and infrastructure.
Once a pool of firms has been selected, Dubai Properties will then select companies to work on individual projects when needed.
Consultants across a variety of disciplines are also signing up to framework agreements with Dubai Properties.
According to regional projects tracker MEED Projects, Dubai Properties has $230m of projects in the pre-execution phase together with $1.8bn of projects that are on hold and could be revived. The developer has $4.2bn of projects in the execution phase. Major projects Dubai Properties has developed in the past include Business Bay, Culture Village and Jumeirah Beach Residence.
The move to establish a framework agreement with contractors is a departure from the traditional method of tendering used by most developers in Dubai and highlights the growing risks that developers face when procuring construction services.
The supply chain has struggled with severe cash flow constraints due to late payment and certification in recent years and some firms are now unable to deliver projects.
Related Posts
Supply and demand imbalance is resulting in less office space being built and property owners offering tenants generous incentives
Dubai’s office market continues to be oversupplied, resulting in less office space ...
READ MORE
Fitch says non-oil economies could decline by 1-5 per cent in the region this year
US ratings agency Fitch forecasts an unprecedented non-oil sector recession in the GCC due to Covid-19.
The ...
READ MORE
Building consumer confidence and opening up in a phased manner will be crucial in ensuring the resumption of UAE’s tourism sector, says latest briefing from Mashreq Bank
Download the complete media ...
READ MORE
The UAE hospitality sector requires vital support to navigate a post-Covid-19 economy
A think tank comprising of leading experts from the UAE's hotel and tourism industry has recommended key areas for ...
READ MORE
Concerns surrounding oversupply are taking a backseat as growing buyer demand coupled with rising interest rates poses a new set of challenges for premium property in Dubai
Dubai’s premium market ...
READ MORE
CEO of Arzan Investment Management, Oliver Hogg, comments on how the asset class provides developers with alternative funding solutions and greater flexibility in capital structuring
Download the full case study
An icon ...
READ MORE
Lowered productivity during the second and third quarters of 2020 will add to the financial pressures faced by builders in the region
The GCC’s construction industry could face extreme time and ...
READ MORE
Fast-growing markets such as the UAE need to pay greater attention to the quality of ageing buildings and infrastructure, says Mashreq Bank
Planners, developers, designers and asset managers need to ...
READ MORE
A policy paper published by the Mohammed bin Rashid School of Government (MBRSG) has recommended the establishment of a public-private partnership (PPP) unit within the government.
“I think its introduction would ...
READ MORE
The commercial impact of Covid-19 has dramatically changed the banking needs of companies in the UAE, says latest briefing from Mashreq Bank
Download the complete media briefing here
Over half of ...
READ MORE
Oversupply continues to challenge Dubai office market
GCC faces unprecedented non-oil recession
Travel and tourism outlook brightens on vaccine rollout
Building a more resilient UAE hospitality sector
Shortages in high-end real estate loom for Dubai
Watch: The rising prominence of private debt in
The long summer ahead for GCC contractors
UAE real estate must reassess asset health strategies
Dubai policy body recommends establishing PPP unit
Companies call for greater financing support from Covid-19
17 January, 2018 | .By COLIN FOREMAN
