Jubail Island Investment Company, the Abu Dhabi-based master developer of the 5 billion UAE dirham ($1.36 billion) Jubail Island project, announced on Monday that it has broken ground for the construction of 300 villas under the first phase. 

The main contract was awarded to Arabian Construction Company (ACC) in March. 

The developer said in a press statement that Phase 1 would be completed by the fourth quarter of 2023, adding that 60 per cent of the Phase 1 roads and infrastructure has been completed. 

The statement said the ground-breaking also marks the initial construction of seven showcase villas that will be featured on Jubail’s ‘Street of Dreams.’ 

When fully complete, Jubail Island project will house six residential village estates located between Yas Island and Saadiyat Island housing more than 5,000 residents, the statement said. 

(Writing by N Madhura; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

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