Dh2.4bn Nakheel contracts for Nad Al Sheba community

Nakheel on Monday signed contracts worth Dh2.4 billion for construction work at its 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 and Metac General Contracting Company.

Package 1 of Dh830 million was awarded to Trojan for main community infrastructure work and the construction of 489 villas. Package 2 of Dh789 million was given to Unec for 482 villas and infrastructure work and Package 3 of Dh781 million to Metac for 468 villas and infrastructure.

Spanning 2.5 million square feet, with extensive landscaping and parks, 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 onsite facilities for all residents like club house, community swimming pool, sports courts and retail centre with around 30 shops and cafes.

The company has over 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.