Al Manal Development signs AED 230 million construction deal for Lakeside Residence

Al Manal Development signed a AED230 million deal with Al Liwan Contracting for the construction of The Lakeside Residence, an elegantly-designed 35-storey residential tower in the Jumeirah Lakes Towers.
Al Manal Development Chairman Juma Ahmed Majid Al Ghurair and Al Liwan Contracting Managing Partner Adib Ataya signed the contract that jumpstarts the construction of The Lakeside Residence covering a build-up area of 50,000 square metres.

Al Ghurair explained that Al Manal Development did an intensive search for a suitable construction partner, given the magnitude of the project that they will launch not only in the UAE, but also in the region. “We wanted a partner that will help us realise our vision for The Lakeside Residence – for it to be a landmark within a modern and master planned community such as Jumeirah Lakes Towers,” Mr. Juma Al Ghurair said. “We’re delighted to select a reputable and reliable company such as Al Liwan. We have every confidence that the construction will proceed smoothly and up to the high standards of quality that Al Liwan is noted for.”

The Lakeside Residence is the first in a series of prestigious property projects that Al Manal Development is planning to undertake in the next three years. It has a total of 358 apartments, consisting of 226 one-bedroom and 132 two-bedroom flats.

“We’re proud to work on such a prestigious property development project. We bring into this project more than a decade of experience in the industry, having constructed many medium- to large-scale building and civil engineering projects since 1990,” said Mr. Adib Ataya. “We wish Al Manal all the best in all its future projects. We are looking forward to a fruitful long-term partnership with them.”

In addition to beautifully designed apartments, The Lakeside Residence has two floors dedicated for basement parking, a retail space at the concourse level, and an amenity deck on level 15. Construction on The Lakeside Residence begins on April 2006.

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