DEC and Robodh Contracting establish a joint venture to develop projects worth over Dhs4.5bn
Dheeraj East Coast- one of the leading real estate companies in the UAE and Robodh Contracting-one of the leading contracting companies in the Middle East have entered into a strategic partnership with the signing of a joint venture term agreement for a property portfolio of over Dhs4.5bn.
The portfolio is expected to grow as DEC announces new projects.
DEC announced today that as per the memorandum of understanding signed between the two companies, Robodh Contracting LLC would be the main contractors for all the DEC's existing and future Projects. In its role as the main contractor, Robodh would be in charge of construction of all the projects of DEC including appointment and coordination with various subcontractors. Robodh Contracting company was selected looking at their excellent track record in UAE in executing certain landmark projects in Dubai.
Commenting on the joint venture, Mr. Dheeraj Wadhwan, Managing Director, DEC said: 'Choosing the right main contractor is one of the most important decision in real estate development. We are very pleased to partner with Robodh Contracting LLC as their name is synonymous with speed & quality in a wide range of construction related services. Their expertise in contracting and their commitment towards their work has earned them some of the most iconic projects across the Middle East. This partnership will definitely add greater value to DEC projects.'
Elaborating on their tie-up with Robodh, Mr. Wadhwan said: 'the joint venture with Robodh will not only help us to standardize and adhere to highest quality benchmarks but will also ensure timely delivery. Further more, as a long term relationship the joint venture is also envisaged to help us to cut the cost of construction. It will also allow us a better control over subcontractors.'
Mr. P.H. Menon, CEO, Robodh Contracting said: 'The joint venture with DEC, whereby Robodh has been mandated Robodh to be the main contractor for all their projects reflects the trust the developers place in us, as our company has attained pre-eminence in the field of construction engineering through its core competence of competitive and timely delivery with the highest quality standards and unrivalled safety performance.'
Mr. Menon further stated that Robodh Contracting while executing mega projects efficiently is equally conscious about the new age requirement of DEC regarding effective usage of labor ensuring speedy delivery and precise execution. This trait of excellence quite often determines our edge over others within the construction industry and in uncertain terms it has become our signature competence.
'The relationship with Dheeraj & East Coast is a part of our strategic intent to achieve quantum growth consistent with our values and beliefs by continuous organizational renascence,' added Mr. Menon.
Currently, DEC has 20 upcoming projects in Dubai. The company's diverse portfolio of developments includes unique retail, commercial and residential projects that feature global culture, mixed-use living, combinations of modern and old world charm, and business. The projects are in various phases of development.
