Real estate developer Sweid & Sweid has awarded a $68m contract to Civilco Civil Engineering & Contracting Company for the $163m Banyan Tree Residences, the first to be built in the Middle East.
Located near the Emirates and Montgomerie golf courses near Dubai’s Jumeirah Lakes Towers, the 32-storey, single-tower property will feature 244 residences, including one-, two-, three- and four-bedroom apartments, duplex apartments, and three full-floor penthouses.
Spread across 10,200m2, the property will also have private outdoor gardens and residents-only Clubhouse & Spa.
Banyan Tree Residences is scheduled to complete in Q3 2019, with construction having commenced at the beginning of this year. Arcan Project Management is project manager.
Maher Sweid, managing partner of Sweid & Sweid, said: “The selection was made based on Civilco’s proven track record of successfully executing high rise projects in Dubai and throughout the UAE, along with timely completion.”
Interior finishes will include 3.2m-high ceilings, Grohe fixtures, and Villeroy & Boch sanitary ware. The residential units’ custom kitchens will feature quartz and Zebrano wood detailing along with Siemens and Smeg stainless-steel appliances.
Sales for the project will be officially launched in Q1 2018 to coincide with the completion of the onsite sales centre and show apartment.
Civilco is an Abu Dhabi-based contractor currently working on projects including Barsha Height’s Rosemont Hotel & Residences and Celestia serviced hotel apartments by Damac.
Previous projects include the Pullman Hotel in Jumeirah Lake Towers, Nord Anglia School in Al Barsha South, and Abu Dhabi’s Al Wahda City Complex and Grand Millennium Hotel.