UAE-based firm Ali Mousa & Sons Contracting has won a $150.3m (AED552m) construction contract for the twin building residential complex, Dragon Towers, at the Nakheel’s mixed-use Dragon City community in Dubai.
Under the contract, mobilisation will begin immediately, with completion anticipated in 2021. Apartments at Dragon Towers are set to go on sale next week, the developer added in a statement.
Connected to China-inspired Dragon Mart retail and trading complex, the 37-storey Dragon Towers is made up of one- and two-bedroom apartments, two floors of retail space, four parking levels, and a sixth-floor podium-level clubhouse, with a swimming pool, a restaurant, and a gym. It has a total development value of $194.1m (AED713m).
The news comes four months after Nakheel announced it was reviewing 11 construction proposals for the project, an expansion that is part of the developer’s ongoing retail, hospitality, and residential development at Dragon City, which neighbours International City.
Already home to Dragon Mart 1 and its sister mall, Dragon Mart 2, Dragon City also features an Ibis Styles hotel.
A new showroom and car park complex and a second hotel are in advanced stages of construction, with further expansions in the pipeline, Nakheel added.
The announcement comes amid a flurry of activity at the Dubai development giant.
Early last month, it revealed it was spending $4.1m (AED15m) to develop two marinas at its Palm Jumierah development.
The end of July this year saw it sign a nearly $80m (AED291m) construction contract with Thai hotel group Centara Hotels & Resorts to build a 601-room beachfront resort.