Nakheel awards $28mn construction contract to UEC
Work on the 90 villa project expected to begin by end of May 2013, developer says
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Nakheel has awarded a contract worth $28 million for the construction of 90 homes in its Jumeirah Village Circle Villas Project to United Engineering Construction.
Mobilisation of the project is expected to begin by the end of the month of May, with an anticipated completion date at the end of 2014.
The sold out Jumeirah Village Circle Villas project consists of 90 four bedroom villas, worth a combined total of $74.86 million.
They will be constructed in a circular pattern, on a landscaped area within Nakheel’s 568 hectare master developed Jumeirah Village Circle community.
Each villa will have a gross floor area of 3,655 sqft, along with extensive indoor and outdoor living space and an ‘expansive roof terrace’, Nakheel said.
The developer had put the villas on sale in December 2012, with a spokesperson saying at the time that investor confidence in Nakheel had returned.
“The auction was a resounding success, and we are confident of high-levels of interest in the Jumeirah Village Circle villas. Recently we sold two plots of land at Palm Jumeirah for a combined price of $114mn and 122 residential villa plots in Jumeirah Village Circle for a total $30.7mn.”
Over the course of the first quarter of the year, Nakheel has announced a number of projects, including its Azure Residences project, a collection of beachfront apartments and villas on the Palm Jumeirah. It has also tendered construction contracts for its $680 million Nakheel Mall, also on the Palm.
