Dubai’s Limitless Awards Dhs19.5m Contract For Downtown Jebel Ali

Dubai-based developer Limitless has awarded a contract worth Dhs19.5 million for infrastructure design and supervision services at Downtown Jebel Ali, the company announced on Sunday.

The developer has appointed Dar Al-Handasah to review and enhance the existing design and to oversee infrastructure construction, which will be out to tender by the end of 2014, a statement said.

Downtown Jebel Ali, a 200-hectare mixed-use community in Dubai, is spread over four zones that, combined, stretch 11km along Sheikh Zayed Road.

Infrastructure in zone one is already complete and Dar Al-Handasah’s scope of work will cover zones two, three and four, Limitless said.

Downtown Jebel Ali, Limitless’ flagship master community, has more than 300 third party plots, which will include a mix of apartments, office, retail developments and hotels.

Located between Jebel Ali Free Zone and Techno Park, it is accessible from Dubai and Abu Dhabi.

Limitless, a former property arm of Dubai World, was hit hard during the property crash in 2009 and was put under the management of government-owned Nakheel in 2010.

The developer restructured a $1.2 billion Islamic debt facility in October 2012 after reaching a formal agreement with a syndicate of lenders including Royal Bank of Scotland and Emirates NBD.

Under the deal, the company was scheduled to make the repayments between 2014 and 2016.

However, earlier this year, the company’s chairman Ali Rashid Lootah said that they were seeking extensions from creditors.

“We are revising our business plan. We need some more time. We are in discussion with banks and they are very cooperative,” Lootah told Reuters.

“We have been talking to the banks for a while now and they know the situation. There will be delays. We have a payment plan but this may just be shifted slightly from the earlier schedule.”