NAKHEEL is bringing a new, gated master planned community of 1,000 villas to Dubai, as part of its leasing, hospitality and retail business expansion strategy.
The project, located in the Nad Al Sheba district, a 10-minute drive from Burj Khalifa, includes 100 high-end, serviced residences managed by a world-renowned hotel operator. Nakheel has signed a contract for Dh27 million ($7.35 million) with Dubai-based Arif and Bintoak Consulting Architects and Engineers for design and engineering services for the project, which has an estimated construction value of Dh2.5 billion ($680 million).
The construction tender will be released within three months, with a contract awarded by the end of this year, the company said. The project is due for completion in 2016.
Spanning 2.5 million sq ft, the development comprises 900 three- to five-bedroom villas for lease and a separate resort-style complex of 100 high-end, serviced homes, all with private swimming pools.