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Tue 18 Feb 2014 02:18 PM

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Nakheel mulls bids for Al Warsan construction contract

Dubai developer says deal set to be signed with winning tender by the end of March

Nakheel mulls bids for Al Warsan construction contract
An artists impression of Warsan Village.

Seven bids have been received by Dubai-based developer Nakheel to build more than 900 new townhouses at its Warsan Village project.

Nakheel said it is considering all tenders for the construction of 942 townhouses at the new, gated community located south-west of International City.

Seven proposals were received, with bids starting at AED695 million ($189 million), the developer said in a statement.

A construction contract is expected to be awarded by the end of March, with completion expected in around 20 months.

Spanning 47.5 hectares, Warsan Village will also feature a recreation centre, mosque and 250 apartments set above a retail plaza with 365 outlets. Construction contracts for these will be awarded at a later date.

A Nakheel spokesman said: "Warsan Village will bring a new style of living to this already hugely-popular community."

In September, Nakheel said it sold 262 homes, with a combined value of AED460m ($125.2m) in the first day of sales at Warsan Village.

The three-bedroom townhomes, starting from AED1.7m with a three-year payment plan, each span 2,013 sq ft and come with a maid's room, three bathrooms, powder room, two balconies, private garden and parking for two cars.

* Nakheel no longer responds to media enquiries from Arabian Business, nor does it grant Arabian Business access to any of its media events or announcements.

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