Developer and arm of Dubai Holding Real Estate – Nakheel – has awarded three contracts totalling over Dh5bn ($1.36bn) for the 723 Beach Collection and Coral Collection luxury villa development at Palm Jebel Ali island.
The Nakheel contracts will initiate construction of the villas on Palm Jebel Ali’s initial six fronds, with the project expected to reach completion by the end of 2026.
Ginco General Contracting is responsible for the construction of 197 villas on Fronds O and P, while Shapoorji Pallonji Mideast will handle 275 villas on Fronds M and N. UNEC will focus on Fronds K and L, constructing 251 villas.
Palm Jebel Ali will offer a luxurious and convenient lifestyle with pedestrian-friendly neighbourhoods, breathtaking sea views, and a wide range of recreational activities.
Residents and visitors will enjoy the benefits of smart city technology and sustainable practices.
“Palm Jebel Ali represents the pinnacle of waterfront living and reflects Dubai’s vision of growth and prosperity. It is set to contribute significantly to the emirate’s economic development, attracting investment and tourism for years to come.”
Khalid Al Malik, CEO, Dubai Holding Real Estate
Last year, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved a new development plan for Palm Jebel Ali, reviving a project that was halted in 2008 amid the global credit crisis. The awarded contracts form part of the wider Dubai 2040 Urban Master Plan.
