Master developer Nakheel on Monday broke ground on Dragon Towers, its AED713 million ($194 million) twin-building residential project at the rapidly-expanding Dragon City mixed-use community.
The ground-breaking ceremony, led by Nakheel chairman Ali Rashid Lootah, comes a month after the developer awarded a contract for AED552 million to UAE-based Ali Mousa & Sons Contracting to build the project – the first residential component at Dragon City and the only high-rise in the area. It is due for completion in 2021.
Dragon Towers, which went on sale last month with prices from AED449,000, is connected by a covered bridge to the world-famous Dragon Mart and its 5,000 shops, restaurants and attractions.
The project comprises two 37-storey buildings each with 571 stylish one- and two-bedroom apartments. There are also two floors of retail space, four parking levels and a sixth-floor podium level clubhouse with a 25-metre swimming pool, children’s pool, restaurant, gym and tennis court.
Dragon Towers is a key component of Nakheel’s ongoing retail, hospitality and residential expansion at Dragon City, which currently comprises sister malls Dragon Mart 1 and 2 and an ibis Styles hotel.
A new showroom and car park complex and a Premier Inn hotel are in advanced stages of construction, with further expansions in the pipeline.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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