Sulja Bros. Building Supplies, Ltd (SLJB)

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Dubai's West Bay Tower work to start
MANAMA: Construction work on Dubai's 27-storey commercial real estate West Bay Tower is set to begin next month, and is set for completion during the fourth quarter of 2008, Bahrain-based International Investment Bank (IIB) chief executive Aabed Al Zeera confirmed yesterday.

IIB, which has a 65 per cent shareholding in the investment, is developing the project in partnership with Saudi-based real estate company SNASCO.

"Preliminary designs of the tower have been completed and submitted to Dubai Authorities TECOMM for approval, and work on the detailed design is now underway," said Mr Al Zeera.

The investment was heavily oversubscribed by investors from across the GCC in June 2006 and represents IIB's second investment in Dubai's Business Bay development, said Mr Al Zeera.

http://www.gulf-daily-news.com/Story.asp?Article=158444&Sn=BUSI&IssueID=29205