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Nakheel has announced a master-planned gated community of 1,000villas, including serviced residences managed by a world-renowned hotel operator. Located in Dubai's Nad Al Sheba district, the development comprises 900 three- to five bedroom villas for lease and a separate resort-style complex of 100 high-end, serviced homes with private swimming pools.
Nakheel has signed a Dh27-million contract with Arif and Bintoak Consulting Architects and Engineers for the design and engineering services. The project has an estimated construction value of Dh2.5 billion.
The construction tender will be released within three months, with a contract awarded by the end of the year. The project is due for completion in 2016.
''Nakheel's new residential and resort-style community at Nad Al Sheba will further enhance our growing leasing, hospitality and retail offerings, all of which are key to our long-term business strategy,'' said Nakheel Chairman Ali Rashid Lootah.
The community will also contain a host of on-site facilities, including a club house and retail centre.
Meanwhile, Nakheel also signed design and engineering contracts worth Dh46 million with RSP Architects, Planners and Engineers for the Deira Islands Mall and Palm West Beach.
A Dh40-million contract was awarded for the mall project, while the contract for the 1.5km beachside complex is worth almost Dh6 million. Tenders for the construction of both projects are expected before the end of the year.
Source: Property Weekly