South Korean firm Ssangyong E&C bags $168mn Wasl tower contract
July 02, 2019 – The project is likely to be completed within the next three years, stated Ssangyong E&C
Ssangyong Engineering and Construction (Ssangyong E&C) announced, that it had won a contract worth $168 million from UAE-based wasl Asset Management Group (Wasl). The contract is for the construction of a 44-storey residential building, Dubai 1 Residence, within Wasl’s community development project in Dubai.
Located at the Al Kifaf development, the Dubai 1 Residence has two towers within the Wasl 1 development. The first tower has a total built up area of 101,569 sqm while the second tower covers 96,103 sqm.
Ssangyong E&C had reported that each of the towers will be shaped like the number ‘1’, and that from 36th to 42nd floors, the two towers will be connected by a link bridge. The Korean company also added that the towers will be built in a way that they face each other.
In addition to residential facilities, other amenities such as swimming pools and parks, apartment podiums and parking spaces will also be built. Meanwhile, Ssangyong E&C said that the project is likely to be completely in the next three years.
The company further stated that this project is a continuation of its strategic partnership with Wasl, in several other developments including Hyatt’s luxury hotel brand, Andaz. In addition to this, Ssangyong E&C also won the $198 million contract from Equatorial Guinea for the development of its Bata International Airport.