Dubai South Properties announced on Monday that it has awarded a contract valued at 1 billion UAE dirhams ($272 million) to Ginco General Contracting for the development of the initial phases of South Bay master development.

South Bay is located in The Residential District within Dubai South alongside the Expo Road, and features 800 villas and townhouses, more than 200 waterfront mansions, 1-kilometre-long crystal lagoon and more than 3 km of waterfront promenade.

The project is scheduled for completion by the first quarter of 2026.

The statement quoted Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai South as saying that since announcing the project last year, the first two phases have fully sold-out.

The Residential District also include a British Curriculum school, announced earlier this year, public parks, sports courts, retail shops, a Lulu hypermarket which opened in March this year, a mosque, a petrol station, and a public bus route connecting The Residential District to the Expo Metro station.

The Pulse project in the Residential District has seen the handover of 5,000 apartments and townhouses, the statement said, adding that Dubai South currently hosts a population of over 25,000 residents.

(Writing by Senthil Palanisamy; Editing by Anoop Menon)