Select Group has awarded a $171.3 million (AED629m) contract to China State Construction Engineering Corporation Middle East (CSCEC ME) to build its waterfront project in Dubai’s Business Day.
The global property developer launched Peninsula in October last year, with the main construction works for phase one of the project set to start in the first quarter of 2022.
Rahail Aslam, founder and CEO of Select Group, said: “Our partnership with CSCEC ME demonstrates our commitment to excellence. The appointment of a world-class contractor like CSCEC ME is a further testament to our focused strategy of working with only the best-in-class partners, seamlessly aligning with our core pillars of delivering market excellence.”
With 518 individual units, Peninsula One spans over 397,000 sqft, made up of studios to two-bedroom apartments. It will also feature a selection of luxury waterfront simplexes spread over six floors, situated directly on the Dubai Canal.
Anchored by a 36-storey residential tower, Peninsula Two comprises 439 units, including studios, one and two bedroom apartments. The entire development is scheduled for completion by the fourth quarter of 2024.
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