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Eagle Hills Abu Dhabi Awards Main Works Contract For Fujairah Beach Toghantoot

Abu Dhabi, UAE–7February2018: Eagle Hills Abu Dhabi has awarded the construction and infrastructure works contract for its Fujairah Beach development to Ghantoot Transport &General Contracting LLC. The Abu Dhabi-based private real estate investment and development company made the announcement during an official signing ceremony, marking a significant milestone in the progress of the beachside luxury hotel and residential villa development in Fujairah. Ghantoot will be responsible for the development of the entire 38,258 sqm site, which includes the 167 key Palace Hotel, 80 luxury villas and the associated infrastructure that will turn the Eagle Hills vision for the resort into a reality. Low Ping, CEO of Eagle Hills, said:“We are pleased to appoint Ghantoot Transport &General Contracting LLCgiven their strong reputation and portfolio. This milestone brings us a step closer to delivering this exciting development to the Emirates of Fujairah.Fujairah Beach offers a truly unique investment opportunity to buyers as it is situated on the beach and within the city, and we have already witnessed a huge level of demand coming from investors. The project is on track for its 2019 completion and this announcement demonstrates our commitment to the world-class levels of construction Eagle Hills is known for.” With a strong portfolio and heritage dating back over three decades,Ghantoot Transport &General Contracting LLCboasts a wealth of experience in building high-end mixed-use developments across the UAE. Ali Mohammed Sadeq Al Blooshi, Chairman, Ghantoot Group, said: “We are honored to be working with Eagle Hills, offering our vast experience and excellent track record that will ensure this project is executed to the highest quality standards.” Fujairah Beach is centrally located, with an 8-minute drive from the local airport, and 35 minutes away from the border of Oman. It is expected to be completed by 2019 and will be the first residential development in Fujairah with direct access to the beach on the renowned Gulf of Oman coastline. The new Palace Fujairah Beach is a premium luxury hotel that will be managed by the renowned Address Hotels + Resorts brand. It will offer a health club, select cafes, high-quality dining outlets, separate pool for adults and children and world-class meeting venues -ideal for families and business guests. The mixed-use development will also feature a gated residential community, comprising 80 villas and townhouses available in two, three and four-bedroom layouts with stunning beach, garden and city views. In addition to the UAE, Eagle Hills is developing projects in four international markets, namelyMorocco, Bahrain, Jordan and Serbia, where it is working to reinvigoratecity hubs, improving the standard of living and increasing investment in the local economies. In the UAE, Eagle Hills is working closely with the Fujairah and DibbaFujairahMunicipalities on two projects, namely Fujairah Beach and The Address Fujairah Resort + Spa, where it is committed to boosting the economies of the Northern Emirates. In August 2017, the company announced the signing of a AED 300 million facility with the National Bank of Fujairah to finance the ongoing construction of Fujairah Beach.

About Eagle Hills: Eagle Hills is an Abu Dhabi-based private real estate investment and development company focused on the development of new city hubs in high-growth international markets. With a focus on developing large-scale real estate projects, Eagle Hills designs and implements mixed-use facilities. These communities draw on the latest technologies to build smart and sustainable projects that add significant value to the local economy. The company is currently developing projects in Bahrain, Jordan, Morocco, Serbia, and UAE.


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