Select Group awards Al Basti & Muktha LLC (ABM) the prestigious construction contract worth over 1 billion AED ($ 296m) for the development of Peninsula Four, The Plaza
DUBAI, UAE, Sept. 21, 2023 /PRNewswire/ -- Select Group, a leading real estate developer renowned for its commitment to excellence and innovation, is pleased to announce that it has awarded the prestigious construction contract worth over 1 billion Dirhams ($ 296m) for its Peninsula Four, The Plaza development to Al Basti & Muktha LLC (ABM).
Peninsula Four, The Plaza, an iconic project within the waterfront community Peninsula, promises to redefine luxury living with its architectural brilliance, breathtaking views and world-class amenities.
Situated in a prime location in Business Bay, this exclusive development embodies Select Group's unwavering dedication to delivering exceptional real estate projects. Peninsula Four, The Plaza boasts a substantial built-up area of 2,256,761 square feet, accommodating 1,025 premium units.
The preliminary activities, which encompass excavation, shoring, and piling, on this 320,000 square feet site have been successfully concluded in readiness for Al Basti & Muktha LLC (ABM) to commence the primary construction phase.
This awarded contract completes the start all construction phases of the Peninsula development, marking a pivotal stage in this remarkable mega-development and is a testament to Select Group's unwavering dedication to delivering the master plan. As the developer advances into this final phase, the Peninsula community edges closer to its scheduled completion, transforming the waterfront landscape and redefining modern living in Business Bay.
Al Basti & Muktha LLC (ABM), a renowned name in the construction industry since 1974, has been selected as the construction partner for Peninsula Four, The Plaza, due to their stellar reputation for delivering high-quality projects. With a track record of excellence spanning several decades, ABM brings extensive expertise and a commitment to craftsmanship that aligns perfectly with Select Group's vision.
"We are thrilled to collaborate with Al Basti & Muktha LLC (ABM) on the construction of Peninsula Four, The Plaza," said Rahail Aslam, founder and Group CEO at Select Group. "Their reputation for delivering projects of the highest quality matches our commitment to excellence. We are confident that together, we will create an iconic development that will set new standards in luxury waterfront living."
Al Basti & Muktha LLC (ABM) has already secured contracts for delivering other developments for Select Group in the waterfront community: Peninsula Five, The Signature Collection, and the flagship of the development of the master community, Jumeirah Living Business Bay, a branded residence designed by Killa Design, the mastermind designer behind Museum of the Future.
Tushar Pathak, Chairman of Al Basti & Muktha LLC (ABM), stated: "We are thrilled to have been selected as the construction partner for Select Group's newest project within the Peninsula waterfront community – Peninsula Four, The Plaza. Partnering with Select Group on this prestigious property development is a testament to our commitment to delivering excellence in construction. We are excited to be part of this ambitious project, and look forward to turning this remarkable vision into reality."
The partnership between Select Group and Al Basti & Muktha LLC (ABM) represents a significant milestone in the real estate industry, promising a development that will leave an indelible mark on the Business Bay skyline and in the hearts of those who call it home.
About Select Group:
Based in Dubai, the United Arab Emirates, Select Group is an award-winning real estate development and investment firm specialising in a selection of verticals including real estate development, investments, hospitality, and retail.
Select Group has delivered over 7,000 homes, more than 20 million sq ft, currently with another 5,000 homes under construction, a combined Gross Development Value of over AED 20 billion.
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