Jubail Island Investment Company on Tuesday announced it has sold all 194 of the available villa plots from the development’s first phase.
The announcement comes as the company also confirmed that 65 percent of the infrastructure has been completed and that all infrastructure works are on schedule to finish in the second quarter of 2022.
The developer also announced the awarding and ground breaking for the villa construction which is on schedule for handover in the fourth quarter of 2023.
Mounir Haidar, Managing Director of Jubail Island Investment Company, said: “We are excited to have reached such a key landmark in the journey of Jubail Island’s development. Such positive sales sentiment and demand in the market reflects the quality of design and consideration that has gone in to making Jubail Island such a special and desirable community at the heart of our capital”.
“I would also like to express our gratitude to the Government and relevant authorities for the measures taken, which provide great support for developers.”
The AED5 billion ($1.36 billion) Jubail Island, a project owned by JIIC and developed and managed by LEAD, will be home to six residential village estates located between Yas Island and Saadiyat Island.
In May, JIIC announced the start of construction on the first phase of villas at the project in Abu Dhabi.
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