Construction

Nakheel says it is assessing bids for Dragon City towers

Lowest bid comes in at below $177 million and final award is due in Q3

Nakheel has revealed that it is assessing 11 proposals for the construction of Dragon Towers, a twin-building residential complex at its rapidly-expanding Dragon City close to Dubai’s Dragon Mart.

The developer said that the lowest bid filed for the two buildings has come in at under $177 million with the complex due to have a podium-level clubhouse with a swimming pool, restaurant and gym. A total of 1,142 one and two bedroom apartments will be constructed across the two buildings as well as two floors of retail facilities and four parking floors. Nakheel will award the contract in Q3 this year, with construction completion in Q2 2021.

Dragon Towers is due to be available for sales in early Q4 this year and will be directly linked to the high profile retail and trading hub.

Nakheel also announced this week that the construction of the third expansion at Dragon City has passed 80% completion as it continues to expand the number of retail, hospitality and residential units. The existing ibis Styles hotel will soon be joined by a second hotel which is currently under construction.

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