Shamal Holding appoints Baccarat Dubai contractor
9 April 2025
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Dubai-based investment company Shamal Holding has awarded the main construction contract to build its Baccarat Hotel & Residences project in Downtown Dubai.
The contract was awarded to the Abu Dhabi-based Arabian Construction Company (ACC).
In an official statement, Shamal Holding said that the enabling works are fully completed and the mobilisation works for the main works will start immediately.
The piling works started in January last year and were being undertaken by the local firm Swissboring.
The hotel and serviced residences will be part of a new luxury development facing the world’s tallest building, Burj Khalifa.
New York-based architecture studio Libeskind designed the towers, while London-based design studio 1508 designed their interiors.
US-based Aecom is the lead designer and supervision consultant.
The project will feature 144 guestrooms, a third of them suites, 49 Baccarat-branded residences, food and beverage outlets and a pool.
The twin towers will have glass facades that pay tribute to the French manufacturer’s fine crystal heritage.
The project is expected to be completed in 2026.
The project is another significant win for ACC in Dubai. In March, MEED reported that local private real estate developer Omniyat had appointed ACC as the main contractor for its Vela by Omniyat project.
The Vela by Omniyat project is a 31-storey residential building located in Business Bay.
ACC also won an estimated AED2bn ($544m) contract from Dubai-based real estate developer Meeras for the Design Quarter residential project in the Dubai design district.
The development is spread across three buildings offering over 558 residential apartments.
The construction works are expected to be completed in 2027.
Dubai real estate developments dominate the UAE’s construction market, with schemes worth over $323bn in the execution or planning stages.
This is in line with a forecast by GlobalData, which projects that the output of the UAE construction sector will grow by 4.2% in real terms in 2025, supported by developments in infrastructure, energy and utilities and residential construction projects.
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The request for qualifications (RFQs) was issued by the municipality’s Sewerage and Recycled Water Projects Department (SRPD).
The bid submission deadline is 26 February.
The first scheme under the package is TF-16-C1, which involves upgrading and rehabilitating the stormwater system east of the Dubai Canal.
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Modon tenders Ras El-Hekma construction contracts
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Abu Dhabi-based developer Modon Holding has tendered several contracts as part of the first phase of development at Ras El-Hekma, a planned new city on Egypt’s Mediterranean coast.
MEED understands that the tenders were issued in January.
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