Nakheel has revealed it is reviewing 11 construction proposals for its Dragon Towers project in Dubai.
The least expensive bid to build the twin-tower residential project is worth $176m (AED650m). Nakheel did not disclose the value of the highest bid.
A contract for Dragon Towers will be award the contract in Q3 2018, and the project is scheduled for completion in Q2 2021. Flats will go on sale in Q4 this year.
Dragon Towers has 1,142 one- and two-bedroom apartments, and is located in Nakheel's China-style Dragon City, a mixed-use community development spanning 1km².
It will also feature a podium-level clubhouse, featuring a swimming pool, restaurant, and gym, in addition to two floors of shops, and four-storey car park.
The news comes in the same week that Nakheel reported its third expansion at Dragon City had reached the 80% completion market. The $46m (AED169m) project to build a showroom and car park is scheduled for completion in Q4 2018.
Work on the project has included building a 34,838m² complex, featuring a ground-floor showroom with more than 10,000m² of leasable space, and a multi-storey, 900-space car park.
The expansion is part of Nakheel's ongoing retail, hospitality, and residential development at Dragon City, which neighbours International City.
Meanwhile, Nakheel has awarded a string of contracts for other projects in Dubai recently.
Wade Adams won a $122m (AED447m) contract to build a 12-lane, 600m bridge to connect the Deira Islands with Dubai’s mainland. Dubai’s Roads and Transport Authority (RTA) is supervising this work.
Beijing Water Design earlier won a $17.9m (AED66m) Nakheel contract to build a 12,000m² "dancing fountain" that will be one of the key attractions at The Pointe on Palm Jumeirah, a new lifestyle development.