Dubai: Master developer Nakheel is assessing 11 proposals, with the lowest bid at just under AED650 million, for the construction of Dragon Towers, its twin-building residential complex at the rapidly-expanding Dragon City community in Dubai.

Dragon Towers, which will be released for sale in early Q4 this year, comprises 1,142 one and two bedroom apartments across two buildings and is directly linked to the world-famous Dragon Mart retail and trading hub. The complex will have a podium-level clubhouse with a swimming pool, restaurant and gym, 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.

The news comes a day after Nakheel announced that construction of the third expansion at Dragon City – an AED169 million showroom and car park complex – has reached the 80 per cent mark.

Dragon Towers is part of Nakheel’s ongoing retail, hospitality and residential expansion at Dragon City, which is already home to Dragon Mart 1, Dragon Mart 2 and an ibis Styles hotel. A second hotel is currently under construction. 

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Media contact:  Rebecca Rees on +9714 375 9702 ( rebecca.rees@nakheel.com )  

About Nakheel ( www.nakheel.com ):

Nakheel is a world-leading developer and a major contributor to realising the vision of Dubai for the 21st century: to create a world class destination for living, business and tourism. Nakheel continues to deliver and enhance an iconic portfolio of innovative landmark projects in Dubai across the residential, retail, hospitality and leisure sectors.

Our master developments include Palm Jumeirah, The World, Deira Islands, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Al Furjan, Warsan Village, Dragon City, International City, Jebel Ali Gardens and Nad Al Sheba.  Together, these span more than 15,000 hectares and currently provide homes for over 270,000 people. Nakheel has around 25,000 residential units under construction or in the pipeline.

Nakheel’s retail arm, Nakheel Malls, is the Middle East’s largest retail developer, with 17.5 million sq ft of leasable space across 19 projects, including large-scale destination malls and souks, F&B destinations and community shopping centres. Assets include the world-famous Ibn Battuta Mall and Dragon Mart, both of which continue to undergo major expansions. Upcoming projects include Nakheel Mall on Palm Jumeirah; Deira Mall at Deira Islands; Al Khail Avenue at Jumeirah Village and more.

Our growing hospitality project portfolio comprises 18 hotels and serviced apartment developments with over 6,500 rooms and hotel apartments between them at various locations in Dubai, including Palm Jumeirah, Deira Islands, Ibn Battuta Mall, Jumeirah Village and Dragon City. Two are currently open and operational, with the rest at various stages of construction and development.

© Press Release 2018

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