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Abu Dhabi Plaza to be constructed in Astana estimated at $1.6 billion

January 30 2014, 17:56

Construction of Abu Dhabi Plaza will cost $1.6 billion, according to the country’s Minister of Industry and New Technology and Vice Prime Minister Asset Issekeshev, tengrinews reports.

“The project is fully financed by investors from the UAE. The overall investments are estimated at $1.6 billion.”, Mr. Issekeshev said January 29, adding that the project is to be completed at the end of 2016. 

Arabtech Holding PJSC (ARTC) has won the tender for construction of the 88-storey complex Abu Dhabi Plaza in Astana, Bloomberg reported in June 2013.

Late March 2011 Astana hosted signing of the agreement on construction of Abu Dhabi Plaza. 

Abu Dhabi Plaza is a staggered matrix of buildings with a retail and leisure podium and a hotel cluster at the base that rises to form a series of office and residential towers to the north - creating a new landmark on Astana’s skyline.

According to the Kazakhstan’s Ministry of Industry and Trade, the agreement was signed by Kazakhstan’s plenipotentiaries - Albert Rau, First Vice Minister of Industry and Trade, and Sergei Khoroshun, Vice Mayor of Astana – and Roger Goundry, Country Director - Kazakhstan, Aldar Properties PJSC, Abu Dhabi. 

“We should have local companies actively involved into the project”, Vice Prime Minister emphasized, adding that the two sides had agreed to meet reps of Kazakhstan-based potential subcontractors to engage local construction companies and producers of construction materials.

According to His Excellency Mr. Abubaker Seddiq Al Khoori, Chairman of the Board at Aldar Properties PJSC, the construction works this year will employ about 7000 people working on two shifts. Currently, about 1000 are employed at the construction site.
 

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