Lift off for Sanctuary Falls
The build contract for the Jumeirah Golf Estates' new community is set to be awarded in weeks.
Negotiations are in the final stages for the build contract on Sanctuary Falls. Located in Jumeirah Golf Estates, the contract is due to be announced in the next few months with building scheduled to begin in November 2007.
"We are currently in final discussions with contractor and we hope to shortly be making an announcement. I cannot comment on the value of the contract, but we hope to announced this within 60 days," said Imran Shaikh, CEO of Shaikh Holdings who is the project developer.
Sanctuary Falls is a 96-villa community and will form part of Phase A of the Jumeirah Golf Estates. This comprises construction of the Earth and Fire golf courses and 1,100 units. Phase B will be a water course designed by Vijay Singh with Phase C a wind course. Jumeirah Golf Estates is being designed as the world's largest urban golf community.
Shaikh Holdings is an international real-estate investment company, which announced recently it is to invest $1.2 billion over the next five years in golf and waterfront communities in the UAE.