Al Noor Residences — Ajman
Al Noor Properties LLC · Gulf Horizon Contracting LLC · Meridian Engineering Consultants · Emirates Development Bank (demo data)
Contract value
AED 186.50M
Re-measured · FIDIC Red Book 1999 (as amended)
Bank exposure
AED 132.40M
AED 78.90M disbursed
Claimed vs verified
46.8% / 43.4%
Engineer certified 43.9%
Schedule variance
-11%
Completion 2026-12-15
Claimed vs verified vs planned progress
AI-assisted — Professional Engineer approval required. Figures are model-generated from submitted evidence and are not certified until an engineer signs off.
Contract particulars
- Contract type
- Re-measured
- Form of contract
- FIDIC Red Book 1999 (as amended)
- Commencement
- 2024-03-01
- Contractual completion
- 2026-12-15
- Retention
- 10%
- Defect Liability Period
- 12 months
- Units
- 248
- Advance recovery
- 10%, pro-rata from IPC-004
- Variations approved
- 3 (AED 1.42M)