In Brief
01 April 2018
LuLu hub at Wholesale City
LuLu Group International, the top retailer in the Middle East, has signed an agreement with Dubai Wholesale City (DWSC) to set up a central logistics hub within the fully integrated facility at an investment of Dh300 million ($82 million).
Work will soon start on the 1.3-million-sq-ft central logistics hub which is likely to be completed within two-and-a-half years.
Once ready, the hi-tech facility will provide efficient distribution services to meet the consumption requirements of LuLu Group International’s growing network of malls and hypermarkets across Dubai, Sharjah, and Northern Emirates.
LuLu Group International operates 144 hypermarkets and shopping malls across the region making it a top player in the organised retail sector.
MAG’s MBL Residence on track
MAG Lifestyle Development (MAG LD), the development arm of MAG Group, has completed all enabling works at 40-storey MBL Residence in Jumeirah Lakes Towers (JLT), Cluster K- K2.
With shoring, piling and excavation works finalised, construction is progressing rapidly under MAG’s Dh260-million ($70.7 million) deal with Ali Mousa & Sons Contracting. The contractor for the 758,875-sq-ft project has completed 20 per cent of the project since July 2017 and is well on track for the Q4 2019 completion date.
Talal Moafaq Al Gaddah, CEO of MAG LD, said: “We are pleased to have concluded enabling works at MBL Residence in less than six months. Construction is continuing as planned and we are excited to see the development taking shape as the latest premium addition to Jumeirah Lakes Towers.”
The development features 472 apartments.
Fujairah airport deal awarded
A consortium of Orascom Construction (ORAS) and UAE’s Al Sahraa Holding Company have won a deal to develop the Fujairah International Airport, a report said.
The contract is valued at $180 million, an Egypt Today report said.
In a filing to the Egyptian Exchange (EGX), Orascom said the project includes all major infrastructure work to develop the airport, including the construction of a new air control tower, expansion of the existing runway, the addition of a new emergency runway with taxiways, and the installation of all airport systems.
Orascom’s stake in the project is 60 per cent. Orascom Construction is based in Dubai.
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