Media zone to invite bids for $490m package
01 October 2005
Dubai’s International Media Production Zone (iMPZ) will shortly invite tenders for one of the largest construction packages involving a 64-storey tower, exhibition halls and associated facilities, estimated to cost Dh1.8 billion ($490.21 million), officials said.
This will exceed the government's own investment in the project, which earlier was projected at Dh2 billion.
“The tower will have our offices and lobby, in which media companies can also rent office spaces. Besides, it will have a large exhibition arena, car parking facilities, landscaped gardens as well as public space,” said Fahad Hareb, iMPZ’s manager for industrial development.
“South African architect Stauch Vorster has been appointed the project's architect and consultant. The firm is currently working on the detailed design of the package. Once completed, we expect it to go out for tender in a few months’ time.”
British landscape architects Halcrow Associates have drawn up the masterplan for the project. Wade Adams is responsible for the project’s infrastructure and enabling works, valued at Dh280 million, said the report.
The overall development, covering an area of more than 50 million sq ft, is expected to be completed by 2009. Once completed, iMPZ could attract Dh50 billion in investment. The media zone will have two hotels and residential facilities that will house about 80,000 professionals in the media production community.
Mohammad Binghalib, director of iMPZ, said: “In the first phase, we are investing Dh800 million.”
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