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Mubadala
Development Company today announced the selection of Oger Abu
Dhabi for the Dh1.5 billion ($408 million) construction package
of UAE University’s new campus development in the city of Al Ain.Al Hikma Development Company, a subsidiary of Mubadala Development, is mandated to develop and deliver the new campus on a BOOT (Build Own Operate and Transfer) basis.
Oger Abu Dhabi was selected following a detailed evaluation process carried out by Al Hikma Development Company. Its proposal for the package was evaluated as more competitive in terms of technical and long-term commercial value than the four other bidders – Al Habtoor, CCC, ACC and Arabtech, said a statement.
“This constitutes another important milestone in the project as we continue with the construction phase. All companies submitted attractive and competitive offers. The competition was very close, but Oger Abu Dhabi LLC emerged as the best value proposal,” said Waleed Al Mokarrab Al Muhairi, chief operating officer of Mubadala Development.
“We are pleased with the progress to date and happy to finally see the commencement of the construction for the new campus. We are one step closer to achieving our goal of having a state of the art campus that will address all of the university’s current and future needs,” said Dr Hadef Bin Jouan Al-Dhaheri, vice chancellor of the UAE University.
The new campus will feature approximately 290,000 sq m of state-of-the-art teaching and recreational facilities, including accommodation for students and university staff. It will be built over a period of four years at the Al Maqam site in Al Ain, with the first phase scheduled to be completed in mid 2008.
“In a highly competitive market, Oger Abu Dhabi is committed to providing Mubadala Development with the highest quality and distinctive services compliant with international standards,” said Mohamad Fakhouri, general manager for Oger in the UAE.
“We are pleased to have appointed Oger Abu Dhabi for the building package for all four phases.” said Rod Mathers, general manager of Al Hikma Development Company.
Mubadala Development is a public joint stock company established and wholly owned by the Government of the Emirate of Abu Dhabi. Its mission is to invest in commercially-viable, strategic, industrial and commercial partnerships.
The company manages a diversified portfolio of local, regional, and international investments. International investments include the Dutch fleet management giant LeasePlan Corporation (25 per cent stake), and a stake in nine oil exploration blocks in Libya. Stakes are also held in the Swiss aircraft and engine services provider SR Technics (40 per cent), the Italian luxury car manufacturer Ferrari (5 per cent), and Piaggio Aero Industries (35 per cent).
In the UAE and wider Gulf region, Mubadala Development has invested in, and developed, a number of leading projects including the first GCC cross-border natural gas project, Dolphin Energy (51 per cent majority stake), Aldar Properties, National Central Cooling Company, Abu Dhabi Ship Building, Imperial College London Diabetes Center in Abu Dhabi, Injazat Data Systems, and the Mukhaizna Oil Field developments in Oman.
Mubadala Development has signed a joint development agreement with Dubai Aluminum Company (DUBAL) to develop, construct, own and operate a $6 billion world class green-field aluminium smelter complex with 1.2-million tonnes capacity a year at the Khalifa Port and Industrial Zone in Abu Dhabi.
Mubadala Development also prides itself on the creation of numerous strategic alliances and associated projects. Current alliance partners include Dubai Aluminum Company (DUBAL), Rolls-Royce, and Shell.
Oger Abu Dhabi was established in 2003 as a subsidiary of Saudi Oger Group of companies, a construction leader in the Middle East, Africa, Europe & the GCC, to participate in the construction growth that Abu Dhabi is witnessing. -TradeArabia News Service