(1888PressRelease)
April 20, 2009 - International Capital Trading LLC (ICT), a leading Abu Dhabi-based investment and development company has announced that it has awarded a Dh 260 million contract to Pivot Engineering & General Contracting Co WLL for the construction of a residential project in Mohammed Bin Zayed City, Abu Dhabi.
The project will encompass 170 three and four bedroom villas, as well as a broad range of amenities for the residents including a clubhouse and swimming pool, two playgrounds, a mosque, a multi-purpose hall, parking and landscaped public areas.
“This is a key project for ICT and reinforces our commitment to the economic development of our Emirate” said Haytham D. Haidar, Chief Operating Officer of ICT. “It reaffirms our belief in the core fundamentals of the Abu Dhabi Economy. Despite the challenges of the current global situation, we are confident that the long-term rental market in Abu Dhabi is robust, providing good returns to investors.”
Haidar explained that locally based Pivot was selected because of its track record in the construction of sizeable projects in Abu Dhabi, and the company’s consistent ability to deliver within commercial parameters.
ICT is an active partner in the emirate’s development, working with the Abu Dhabi Urban Planning Council and other government entities. “Our work with Urban Planning Council is vital as it ensures that everything we do is in line with Plan Abu Dhabi 2030 guidelines and that we deliver quality, sustainable and environmentally friendly residential units to the inhabitants and the community,” said Haidar
Sustainability is a key principle for all ICT’s projects, explained Haidar, adding that every initiative is carefully evaluated to ensure that it meets the highest standards of conservation, sustainability and efficiency.
About ICT
A leader in Abu Dhabi business environment, International Capital Trading (ICT) is a private investment company that owns and operates substantial assets in real estate and finance.
About Pivot
Abu Dhabi based Pivot Engineering and General Contracting has experience in a wide range of construction projects across the UAE and the Middle East. As a general contractor, Pivot’s work spans a wide array of project types in the building industry ranging from substations and desalination plants to high-rise towers, commercial and residential complexes. Pivot also has experience in building palaces, villa compounds, hotels and shopping malls.
Media Inquiries:
For more information about this press release, contact:
Abdullah Al Awani, ICT, Cell: +971 50 662 0212, Email: alawani ( @ ) ict dot ae
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