Alec wins $1bn Dubai contracts

expat network

Alec wins $1bn Dubai contracts

Alec, a subsidiary of Al Jaber Group has won new contracts worth approximately Dh4 billion ($1.08 billion) in Dubai in the last three months, a report said.

Residences at Marina Gate development in Dubai, Dubai Festival City Mall extension, Bvlgari Resort Hotel & Marina Village and Bluewaters Wharf Retail Project, are among the major contracts the firm won, added the Emirates 24/7 report.

The Marina Gate development contract, construction of which slated to begin in the first quarter of 2015, is alone worth Dh1 billion ($272 million), according to the report.

The contract for the second phase of the 73,500-sq-m Dubai Festival City (DFC) Mall extension amounts to about Dh600 million, including demolition works. The construction period will be 16 months, the report said.

Both the Dh1.4 billion ($381 million) contract for Bvlgari Resort Hotel & Marina Village and the Dh1.2 billion ($326 million) job for Bluewaters Wharf Retail Construction Works were awarded to Alec by by Meraas Development.

Source: Trade Arabia

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Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.