Long-awaited Dubailand units set for handover
Contractor Kele also wins two new deals at Al Mazaya's Queue Point
CEO Andrew Elias said that its contract for phases one to three of the project is set to complete "within the coming months" and that phase four will complete in the first quarter of 2014.
He also announced that Kele has been awarded phases five and six of the project, which is being developed by Kuwaiti real estate firm Al Mazaya. This involves the construction of a further 12 buildings.
The units are being delivered some four years after the initial project was expected to be completed. Al Mazaya broke ground on the scheme in June 2008 and initially appointed three other contractors to carry out first phase work with a value of AED: 460m ($82.8m).
However, the ensuing financial crisis meant the project was shelved until the company agreed new deals to restart work at the project in April last year, as well as new timetables for delivery.
Queue Point is a San Francisco-inspired development which initially had a value of around $545m (AED: 2bn) when it launched.
A series of residential and commercial buildings were initially planned over 52 plots, ranging in size from between five and 15 storeys.
Kele Contracting CEO Andrew Elias said: "The pulse of Dubai's real estate market has picked up considerably and demand for quality mid-level apartments is trong, making Queue Point a project uniquely suited to meet this demand.
"Kele is committed to delivering the high standard product it is known for and we look forward to completing the project on schedule."