Gulf Technical win $96m Dubai mall contract

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Gulf Technical win $96m Dubai mall contract

Gulf Technical Construction Company, a unit of Drake and Scull International (DSI) has been awarded a AED353 million ($96.12 million) contract to build a new mall in Dubai. They said in a statement that they have been hired by developer Nakheel to build the Circle Mall at Jumeirah Village Circle in Dubai., UAE.

The Circle Mall will comprise 235 shops, a multi-screen cinema, a health clinic, cafes, restaurants and a food court, spanning more than 432,000 sq ft in total built up area.

Nakheel has already announced that about half of the leasable space has been reserved by retailers, with tenants including Spinneys, Oscar Cinemas, Sports Market, Early Learning Centre, Mamas & Papas, Grand Optics, Tips & Toes, Bare Salon and Supercare Pharmacy.

Khaldoun Tabari, CEO and vice chairman of Drake & Scull International, said: “We are pleased to start off the fourth quarter of 2015 on a strong positive note… and we remain optimistic about securing more high profile projects before the end of the year.”

GTCC is currently delivering The Pointe, the Maliha Hospital, the Binary Tower as well as the Al Reef Residences Tower in the UAE.
The project award brings DSI’s total backlog to 2.43 billion dirhams ($661.66 million) to date this year, Dubai’s second biggest contractor by market value.

Source: www.arabianbusiness.com

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.