Nakheel Awards Over AED 950 Million Residential Construction Contract in the UAE

en.Wedoany.com Reported - On October 26, UAE-based Dubai real estate developer Nakheel announced that it has awarded the main construction contract for Phases 2 and 4 of the Bay Grove Residences residential project on Dubai Islands to Parkway International Contracting, with a contract value exceeding AED 950 million (approximately USD 259 million). The works cover 8 residential buildings, 617 residential units and related infrastructure, with the main construction of the two phases scheduled for completion by the end of 2028 and in the second quarter of 2029, respectively.

Under the construction schedule, Phase 2 comprises 4 residential buildings with a total of 360 residential units, with main construction expected to be completed by the end of 2028; Phase 4 likewise comprises 4 residential buildings with 257 residential units, scheduled for completion in the second quarter of 2029. The residential unit types range from one-bedroom to four-bedroom, and the scope of work includes basement construction, supporting infrastructure works, and public facilities such as swimming pools, sports courts and a fitness center. Parkway International Contracting is responsible for the main construction of both phases and related works coordination.

The main construction contracts for Phases 1 and 3 of Bay Grove Residences were awarded to Metac General Contracting on September 17, with a contract value exceeding AED 800 million, covering 7 buildings and 537 residential units, of which 296 units are in Phase 1 and 241 units in Phase 3. The two main construction contracts total more than AED 1.75 billion, covering all 15 residential buildings and 1,154 residential units planned for the project, with the main construction of Phases 1 and 3 also scheduled for completion by the end of 2028.

Bay Grove Residences is located on Dubai Islands off the coast of Deira, Dubai, and is planned to feature landscaped public spaces, pedestrian and cycling paths, and a connection to Crystal Beach. Dubai Islands consists of 5 islands with a total area of 18.6 square kilometers, and the overall development plan includes residential communities, hotels, commercial and leisure facilities, parks and cultural facilities.