Nakheel awards $1.36bn for luxury villas
Nakheel awards $1.36bn in contracts for luxury villas on Palm Jebel Ali. The units are scheduled for completion by late 2026.
Dubai developer Nakheel has awarded three construction contracts worth more than Dh5 billion ($1.36 billion) collectively for ultra-luxury villas on the first six fronds of the Palm Jebel Ali project.
The scope of work includes the construction of 723 beach collection and coral collection villas across fronds K, L, M, N, O, and P, as well as the development of infrastructure and public spaces in the area.
The contracts include developing 539 five-and six-bedroom beach collection villas and 184 seven-bedroom coral collection villas, with built-up areas ranging from 8,000 to 15,000 square feet. Along with the construction of the waterfront residences, a network of roads, integrated utilities and landscaping is also under way.
The units are scheduled for completion by late 2026, Nakheel said.
The development has been recording strong buyer interest, with nearly 700 villas sold out soon after launch last year. Each villa sold for between Dh20 million and Dh50 million.
“It is set to contribute significantly to the emirate’s economic development, attracting investment and tourism for years to come.”
Image source: Shutterstock
Nakheel awards $1.36bn in contracts for luxury villas on Palm Jebel Ali. The units are scheduled for completion by late 2026.
Dubai developer Nakheel has awarded three construction contracts worth more than Dh5 billion ($1.36 billion) collectively for ultra-luxury villas on the first six fronds of the Palm Jebel Ali project.
The scope of work includes the construction of 723 beach collection and coral collection villas across fronds K, L, M, N, O, and P, as well as the development of infrastructure and public spaces in the area.
The contracts include developing 539 five-and six-bedroom beach collection villas and 184 seven-bedroom coral collection villas, with built-up areas ranging from 8,000 to 15,000 square feet. Along with the construction of the waterfront residences, a network of roads, integrated utilities and landscaping is also under way.
The units are scheduled for completion by late 2026, Nakheel said.
The development has been recording strong buyer interest, with nearly 700 villas sold out soon after launch last year. Each villa sold for between Dh20 million and Dh50 million.
“It is set to contribute significantly to the emirate’s economic development, attracting investment and tourism for years to come.”
See the First Quarter Real Estate Transactions record for Dubai.
Source: TheNational