Nakheel awards clutch of contracts on Deira Islands development

Author: ARAB NEWSThu, 2017-08-10 03:00ID: 1502307043305924700DUBAI: Nakheel, the developer of Dubai’s palm islands, has awarded 430 million dirhams ($117 million) of contracts on its Deira Islands development.The orders cover the construction of a sewage treatment plant, a district cooling plant, a substation and piling work for an 800-room resort.“The waterfront city will add 40km, including 21km of beach, to Dubai’s coastline and pave the way for the development of hundreds of hotels, residences and attractions,” Nakheel said in a statement.The Dubai government-owned developer said it has now invested nearly 7.5 billion dirhams in infrastructure and construction contracts for Deira Islands.The contracts include a 100 million dirhams order to build a district calling plant for Nakheel’s Deira Islands Night Souk.The Deira Islands district is expected to have a population of 250,000 when complete.The developer in April awarded a construction contract worth 4.2 billion dirhams for Deira Mall, which will become the centerpiece attraction of the development.Despite subdued demand for new property, the Dubai construction sector is showing signs of a pickup in activity in the run up to the Dubai World Expo 2020, say analysts.Some 47 contracts, together valued at $3 billion, connected to the event are expected to be awarded this year.
Main category: Business & Economy

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