Baniyas Investment and Development Company (BID) – the investment arm of Bani Yas Sports Club – has announced that the construction work for Phase I of Bawabat Al Sharq, the AED 3 billion world-class, mixed-use development under construction in Bani Yas city, is progressing as per schedule.

BID has announced that the sub-structure for residential units is almost complete. By the same token, the construction of the Bawabat Al Sharq destination mall, which is planned for a grand opening in December 2010, is also progressing fast with the sub-structure nearing completion.

Wael Tawil, Chief Executive Officer of Baniyas Investment and Development, said: “We have achieved tremendous progress on the project, which reflects BID’s commitment to the Bani Yas community. One of the chief tenets of BID’s corporate strategy is our adherence to time-frames – the progress is reflective of this commitment, not to mention the all-round and meticulous care that we have lent to every aspect of this project.”

Phase I of the luxurious community project is expected to be completed in the third quarter of 2010. It includes a total of 164 well-designed apartments and 56 luxury villas, comprising different villa types with several detached villas to meet the needs of different buyers.

The destination mall within Phase I, covering nearly 70,000 square metres, will feature 339 high profile retail outlets of fashion wear, electronics, neighborhood services, accessory outlets, jewelers in addition to a Carrefour hypermarket. The mall will be spread across two floors and will include 2,245 parking spaces and 22 food outlets inclusive of restaurants and cafes. The mall is expected to be officially inaugurated in December 2010.

The overall project’s construction is being overseen by well-established contractors. Responsible for the construction of Phase 1 is Target Engineering Construction Company, a leading single source EPC contractor owned by Arabtec Holdings, the largest construction company in the UAE. Cansult Maunsell/AECOM is the landscaping design contractor while the overall design and Architect is ‘World Planner Consultant Engineers’. Renowned Australian design firm, Saunders Global, is responsible for the mall’s interior design.

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