Hill wins Masdar mixed-use development contract
ABU DHABI, 15 days ago
Hill International, a global leader in managing construction risk, said it has been awarded a Dh12.2-million ($3.3 million) contract by Masdar, Abu Dhabi's renewable energy company, to provide project management services during construction of the Masdar Institute Neighbourhood, a development within Masdar City located in the UAE emirate.
Masdar City in Abu Dhabi is an emerging global hub for renewable energy and clean technologies. As a free zone, it offers benefits to registered companies such as 100 per cent foreign ownership, zero tax and zero import tariffs.
On the three-year contract win, Mohammed Al Rais, the regional president (Middle East) for Hill's Project Management Group, said: "Masdar City is a model for sustainable urban development not just regionally but globally."
"We are extremely proud to have been selected to help Masdar deliver this important project," he added.
A mixed-use development that boasts more than 103,000 sq m of space, Masdar Institute Neighbourhood will provide residential and commercial resources to people and companies located within Masdar City.
The development will feature a commercial office building, two residential buildings, underground parking and a plaza. The project is anticipated to achieve a three Pearl rating for Estidama requirements as well as Leed (Leadership in Energy and Environmental Design) Gold certification.-TradeArabia News Service