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FINANCIAL NEWS
Damac finishes foundation work at Al Jawharah tower
28 Feb 2011
(MENAFN) The Senior Vice-President of Damac Properties, Niall McLoughlin, said that the company, responsible for developing the Al Jawharah Tower project in Saudi Arabia, completed the foundation work of the tower, reported Gulf News.
McLoughlin said that the foundation work and all basement levels were completed by major contractors of the project, Drake & Scull,
The Jeddah-based tower project includes 48 floors and is located on the coast of the Red Sea. Al Jawharah tour is expected to be Jeddah’s new icon building since it would have reflective panels that create illusionary effects by scattering and refracting light.
The vice president said that the foundations take a lot of time to be completed and now work would become faster, with a rate of one floor per week.
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