Lowest bid for construction project is $245m, says master developer
Nakheel says it is assessing five proposals, with bids starting at just under AED900 million ($245m), for the construction of Dragon Towers, its twin-building residential complex at the Dragon City community in Dubai.
The master developer said Dragon Towers is set to comprise 1,140 one- and two-bedroom apartments across two buildings directly linked to the Dragon Mart retail and trading hub. The complex will have two retail floors, four parking floors and a podium level swimming pool, restaurant and gym.
Nakheel expects to award the contract by the end of 2017, with construction set to complete in 2020.
Dragon Towers will be part of Dragon City, Nakheel’s 11 million sq ft mixed-use master development, currently best known for Dragon Mart, the world’s largest Chinese trading hub outside mainland China.
The Dragon City transformation began in 2012 with the construction of Dragon Mart 2, which opened in 2015, doubling the size of the original Dragon Mart to more than 3.5 million sq ft.
Dragon City also includes two hotels – a 251-room ibis Styles that opened in February 2016 and a 304-room Premier Inn under construction – and a 375,000 sq ft showroom complex and car park, also under construction.