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DAMAN ANNOUNCES TERMINATION OF OGER DUBAI AS MAIN CONTRACTOR ON THE BUILDINGS BY DAMAN PROJECT
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Daman Investments is the Manager of the Buildings by Daman project, a multi-purpose mixed-use complex located at the Dubai International Financial Centre.
Daman Investments announces today the immediate termination of Oger Dubai as the main contractor on the Buildings by Daman project.
Daman used its best efforts to resolve the serious issues related to the disappointing performance of the contractor but was unable to do so. As a result, this decision was based on Daman’s obligation to safeguard the interests of the shareholders and stakeholders in the project.
Standing by their firm commitment to complete the project to the high quality standards originally envisaged and to rectify this situation, Daman Investments has initiated steps to appoint a new main contractor for the project.
Upon the appointment of the new contractor within the coming weeks Daman will be providing further information regarding progress on the project.
Daman Investments announces today the immediate termination of Oger Dubai as the main contractor on the Buildings by Daman project.
Daman used its best efforts to resolve the serious issues related to the disappointing performance of the contractor but was unable to do so. As a result, this decision was based on Daman’s obligation to safeguard the interests of the shareholders and stakeholders in the project.
Standing by their firm commitment to complete the project to the high quality standards originally envisaged and to rectify this situation, Daman Investments has initiated steps to appoint a new main contractor for the project.
Upon the appointment of the new contractor within the coming weeks Daman will be providing further information regarding progress on the project.
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