Dubai's Nakheel mulls 11 bids to build Dragon Towers project

Developer says lowest bid of AED650m has been received for construction of twin-building residential complex at Dragon City
By Sam Bridge
Wed 13 Jun 2018 05:41 PM

Developer Nakheel said on Wednesday it is assessing 11 proposals, with the lowest bid at just under AED650 million, for the construction of Dragon Towers, its twin-building residential complex at the Dragon City community in Dubai.

Dragon Towers, which will be released for sale in the fourth quarter of this year, comprises 1,142 one and two bedroom apartments across two buildings and is directly linked to the Dragon Mart retail and trading hub.

The complex will have a podium-level clubhouse with a swimming pool, restaurant and gym, as well as two floors of retail facilities and four parking floors, Nakheel said in a statement.

Nakheel added that it will award the contract in the third quarter of this year, with construction completion scheduled for the second quarter of 2021.

The news comes a day after Nakheel announced that construction of the third expansion at Dragon City – an AED169 million showroom and car park complex – has reached the 80 percent mark.

Dragon Towers is part of Nakheel’s ongoing retail, hospitality and residential expansion at Dragon City, which is already home to Dragon Mart 1, Dragon Mart 2 and an ibis Styles hotel. A second hotel is currently under construction.

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Last Updated: Wed 13 Jun 2018 05:51 PM GST

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