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Skai Holdings announced that it has completed more than 30 per cent of the construction of the $1-billion (Dh3.67 billion) Viceroy Dubai Palm Jumeirah development, and is on track to open as planned in 2016.
China State Construction Engineering Corporation (CSCEC ME), the project's main contractor and a key investor, has now begun structural works on level 14 of the 16-storey building. Work has also commenced on the fitout and mechanical electrical and plumbing works.
''This is a landmark project for the China State team in the Middle East,'' said Yu Tao, President and CEO of CSCEC ME. ''With almost a third of the construction completed on Viceroy Palm Jumeirah, we are on schedule to open in 2016. Dubai's tourism and hospitality sector continues to perform well, and with a clear vision and dynamic strategy led by the government and fully supported by the private sector, we expect continued and sustainable growth over the mid and long term.''
Nabil Akaka, CEO of Real Estate Development at Skai Holdings, said: ''Completing 30 per cent of the Viceroy Dubai Palm Jumeirah marks a milestone for us and our partners, and further demonstrates our pledge to complete the project on time and to the highest standards.''
The luxury residential and hospitality project will offer 477 rooms and suites and 222 signature Viceroy Residences with views of the Arabian Gulf and Dubai's skylines.
The property's attractive location, situated at the base of the Palm Jumeirah, is easily accessible and is just 15 minutes from Downtown Dubai, and just minutes away from major tourist and business attractions such as the Dubai Marina and Dubai Media City.
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Source: Property Weekly