Project includes serviced residences, retail, recreational facilities

Dubai, 14 September 2015

Dubai developer Nakheel today signed a trio of contracts worth AED2.4 billion for construction work at its new mixed-use community of more than 1,500 villas and serviced residences at Nad al Sheba.

The project will be built in three packages by UAE-based Trojan General Contracting, United Engineering Construction LLC and Metac General Contracting Company. The contracts, cemented today at a triple signing ceremony at Nakheel's Dubai headquarters, are for 1,439 residential villas. Details are:

·         Package 1:  AED830 million contract awarded to Trojan for main community infrastructure work and the construction of 489 villas

·         Package 2: AED789 million to UNEC for 482 villas and infrastructure work

·         Package 3: AED781 million to Metac for 468 villas and infrastructure

Spanning 2.5 million square feet, with extensive landscaping and parks, Nakheel's Nad Al Sheba community includes 1,439 three to five bedroom homes for lease and a separate, resort-style complex of around 100 high-end serviced villas, all with private pools.  

The community, expected to be completed in early 2018, will also feature a host of onsite facilities for all residents, including a club house, community swimming pool, sports courts and retail centre with around 30 shops and cafes. 

Residents and guests at the separate, serviced villa complex will enjoy exclusive access to an additional range of high-end facilities and services, including an onsite health club with spa, wellness centre and lap pool, a restaurant, in-villa private dining and housekeeping and laundry services. 

Nad Al Sheba is one of the latest projects in Nakheel's growing list of leasing, hospitality and retail offerings.  The company has more than 15,000 new residential units for lease in the pipeline, including the 1,400-plus at Nad Al Sheba and 10,000 at Jebel Ali Gardens, launched at Cityscape last week, adding to its current residential leasing stock of 17,000 units. 

-Ends-

Media contact
Rebecca Rees on +971 4 375 9702 or Rebecca.rees@nakheel.com

Nakheel's current residential leasing portfolio comprises almost 17,000 units at various Nakheel communities across Dubai including The Gardens, International City, Discovery Gardens and Jebel Ali Village, with more to come at Nad Al Sheba, Jebel Ali Gardens, Jumeirah Heights Fronds, Deira Islands and The Palm Gateway.

About Nakheel:
Nakheel is one of the world's leading developers and a major contributor to realising the vision of Dubai for the 21st century: creating 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.

Nakheel's master developments in Dubai 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 Community. Together, these span more than 15,000 hectares and currently provide homes for over 200,000 people.  Nakheel has nearly 21,000 residential units under construction or in the pipeline.

Nakheel's growing retail project portfolio comprises large-scale destination developments at various locations in Dubai, including Nakheel Mall, Deira Mall, Deira Islands Night Souk, Warsan Souk, Al Khail Avenue, The Circle Mall and The Pointe at Palm Jumeirah; major extensions to Dragon Mart (renamed Dragon City) and Ibn Battuta Mall; and several neighbourhood community centres. Our existing and pipeline retail projects cover more than 13 million square feet of leasable space.

Nakheel is also developing hotels at various locations in Dubai, including Palm Jumeirah, Deira Islands, Ibn Battuta Mall and Dragon City.

© Press Release 2015