JIIC awards CSCEC ME $60mn contract to build Souk Al Jubail townhouses
Souk Al Jubail is at the heart of the $2.72bn Jubail Island Project in Abu Dhabi
The Jubail Island Investment Company (JIIC) has awarded a contract worth $60mn to the Middle East unit of China State Construction Engineering Corporation (CSCEC) for the construction of townhouses within the Souk Al Jubail community on Jubail Island in Abu Dhabi.
In a statement, JIIC said that as part of the contract, CSCEC will undertake a range of infrastructure works, including sub-structure, superstructure, MEP works, finishing, facades and landscaping, amongst others, over a 22-month contract.
Souk Al Jubail is located in the heart of the $2.72bn Jubail Island project, which is owned by JIIC and developed and managed by LEAD. The development consists of six residential village estates located between Yas Island and Saadiyat Island.
The 150 townhouses at Souk Al Jubail will range from two-, three- and four-bedrooms and will offer families premium living through a wide array of luxury townhouse options, stated the developer.
JIIC Managing Director Mounir Haidar said: “Yet another important milestone in turning Jubail Island into a reality, we are positive that the elegantly designed homes will appeal to a range of purchasers, and with schools and other amenities located within walking distance, Souk Al Jubail will be a true community.”
Souk Al Jubail comprises a series of walkable residential neighbourhoods, amphitheatre, plazas and green spaces with playgrounds, he added, pointing out that the project features flexible options to suit everyone.
“Today’s announcement reflects the strong market sentiment in Abu Dhabi’s real estate sector, with Jubail Island destined to become one of the premier developments in the region. We have already experienced strong demand from buyers in the buoyant real estate sector and we expect Souk Al Jubail to be sold out in record time,” he said, adding that the townhouses are due to be completed in April 2024.
In May 2022, JIIC announced the completion of the 140m main bridge to Jubail Island, following which, CBRE was appointed as retail leasing advisor for the Jubail Island development. In early June, JIIC awarded a $11mn contract to APCC for a new 66-berth marina in Marfa Al Jubail.
