Nakheel Awards Dhs174m Contracts For Palm Jumeirah Projects

Nakheel Awards Dhs174m Contracts For Palm Jumeirah Projects

The constructioncontracts have beenawarded for AzureResidences and ...More
The constructioncontracts have beenawarded for AzureResidences and Club VistaMare. Less

Nakheel Awards Dhs174m Contracts For Palm Jumeirah Projects

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Overview:
The construction contracts are granted for Azure Residences and Club Vista Mare.
Description:

Dubai developer Nakheel has awarded contracts worth Dhs174 million for the construction of two new beach-front projects on Palm Jumeirah.

Nakheel appointed United National Engineering Company (UNEC) to assemble 170 flats and swimming-pool in Azure Residences under a contract worth Dhs135.5 million, while Al Ghurair Contracting and Engineering Works gained a Dhs38.7 million contract to assemble Club Vista Mare.

Work with both projects will begin "shortly", the firm said in a statement.

Construction on Club Vista Mare is slated for completion in 18 months, while Azure Residences has a construction timeline of two years.

The 10storey Azure Residences complex contains 170 apartments, an infinity pool, nine restaurants, gymnasium and also a parking lot.

Club Vista Mare functions 33 studio apartments, eight cafes / retail amenities, a fitness center and restaurants.

Nakheel, one of the worst hit during the property crash in Dubai in 2009, was taken over by the authorities under a $16 billion saving strategy finished in 2011.

The company has recovered since then and is booming in accordance with Dubai's complete property market. The developer recently announced a 58 percent year-on-year jump in its nine-month net profit.

Nakheel also launched three new projects throughout Cityscape in 2013, including a two projects and mixed use development in Deira - a crescent boardwalk and also a beachfront complex on Palm Jumeirah. The company is also, developing hotels at Ibn Battuta, Palm Jumeirah and Dragon Mart.

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Posted on: 06:57 PM - 13 Dec 13

Nakheel Awards Dhs174m Contracts For Palm Jumeirah Projects
Nakheel Awards Dhs174m Contracts For Palm Jumeirah Projects page created by Ty Dismukes
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The construction contracts have been awarded for Azure Residences and Club Vista Mare.
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