Nakheel signs $653m deals to build 1,500 Nad al Sheba homes

Dubai developer inks agreements with three construction contractors to deliver mixed-use community in early 2018
Nakheel signs $653m deals to build 1,500 Nad al Sheba homes
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By Staff writer
Mon 14 Sep 2015 04:07 PM

Dubai developer Nakheel on Monday signed a trio of contracts worth AED2.4 billion ($653.4 million) for construction work at its new mixed-use community of more than 1,500 villas and serviced residences at Nad al Sheba.

The project will be built in three packages by UAE-based Trojan General Contracting, United Engineering Construction LLC and Metac General Contracting Company.

Nakheel said in a statement that package 1 is a AED830 million contract awarded to Trojan for main community infrastructure work and the construction of 489 villas.

Package 2 is a AED789 million deal to UNEC for 482 villas and infrastructure work while package 3, worth AED781 million, to Metac is for 468 villas and infrastructure.

Spanning 2.5 million square feet, with extensive landscaping and parks, Nakheel said its Nad Al Sheba community includes 1,439 three to five bedroom homes for lease and a separate, resort-style complex of around 100 high-end serviced villas, all with private pools.

The community, expected to be completed in early 2018, will also feature a club house, community swimming pool, sports courts and retail centre with around 30 shops and cafes.

Residents and guests at the separate, serviced villa complex will enjoy exclusive access to an additional range of high-end facilities and services, including an onsite health club with spa, wellness centre and lap pool, a restaurant, in-villa private dining and housekeeping and laundry services.

Nad Al Sheba is one of the latest projects in Nakheel's growing list of leasing, hospitality and retail offerings. The company has more than 15,000 new residential units for lease in the pipeline, including the 1,400-plus at Nad Al Sheba and 10,000 at Jebel Ali Gardens, launched at Cityscape last week, adding to its current residential leasing stock of 17,000 units.

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