Tameer Towers to "review" construction contracts

Tameer announced today that it "is reviewing the construction programmes and associated costs for its iconic Tameer Towers project on Al Reem Island, Abu Dhabi".

The announcement comes only a few months after the company cut half of its staff and delayed a major project in Dubai. Sources close to Tameer say the company is cancelling the contracts, but it is considering the option of renegotiating with the same contractors.

Tameer Towers is planned for the heart of Shams Abu Dhabi, a master development from Sorouh Real Estate. Sorouh could not be reached for comment as of press time.

Here's a version from Meed, as well, from this morning. (Subscription only)

Full statement ...

In line with Tameer's stated aim to provide the best in comfortable living spaces and inspirational work environments, Tameer is reviewing the construction programmes and associated costs for its iconic Tameer Towers project on Al Reem Island, Abu Dhabi.

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