UAE-based firm awarded $163mn contract by Nakheel to build homes in its Al Furjan development.
UAE-based Al Shafar Transport and Contracting Co has been awarded a 600 million-dirham ($163.4 million) contract by Nakheel for the construction of 300 houses in Dubai, it was announced on Tuesday.
Nakheel said in a statement that Al Shafar Transport and Contracting, part of the Al Shafar Group, would build the houses in its Al Furjan development in Jebel Ali.
The developer said construction would start in the third quarter, with the handover of the first residences expected to be in the third quarter of 2010.
Nakheel, part of state-owned conglomerate Dubai World, said last week it had awarded Arabtec a contract to build Al Furjan's first 1,500 houses. The development will have more than 4,000 homes once complete.