Ssangyong Engineering & Construction (Ssangyong E&C) announced on March 25 that it has simultaneously secured contracts for two luxury residence projects, “Creek Waters,” in the Dubai Creek Harbour area. Creek Waters 1 and 2, set to be located in the new residential hub of Creek Harbour in Dubai, will each be luxury residences comprising a single building with 52 floors above ground and 2 floors underground, housing 450 and 455 units, respectively.
The client for these projects is EMAAR, the United Arab Emirates’ largest real estate development company, which owns the Burj Khalifa and is listed on the Dubai Financial Market. This year, EMAAR plans to double its volume of large-scale development projects, including residence buildings, hotels, and villas, compared to last year, raising expectations for additional orders.
Moreover, by securing its first order from EMAAR, Ssangyong E&C has diversified its clientele, which already includes Investment Corporation of Dubai (ICD) and Wasl, potentially boosting its competitive edge in the Middle Eastern construction market.
A representative from Ssangyong E&C stated, “By simultaneously securing contracts for two high-end residence projects, we are expanding our presence in the luxury construction market in Dubai. Particularly after the completion of Dubai Atlantis The Royal, our clients have highly regarded our technical capabilities and reputation, setting us up for the anticipation of securing more orders in the future.”
Since its first foray into Dubai in 1997, Ssangyong E&C has secured a total of 14 projects through clients such as ICD and Wasl, amounting to approximately 3.9 trillion won.