Nakheel awards $190.5mn Warsan Village contract
Ginco General Contracting to build gated community development
Nakheel has awarded a contract worth AED700mn ($190.5mn) for the construction of its Warsan Village Community to Ginco General Contracting.
The Dubai developer said the contract covers the construction of 936 townhouses at Warsan Village, its new, gated community located south-west of International City.
Spanning 47.5 hectares, Warsan Village will also feature a recreation centre, mosque and 250 apartments set above a retail plaza with 365 outlets.
Construction contracts for these will be awarded at a later date, Nakheel said in a statement cited by news agency WAM.
A Nakheel spokesman said: "Warsan Village will bring a new style of living to this already hugely-popular community."
In February, the developer said it had received seven bids for the construction contract, starting at AED695 million.
The construction contract is expected to span around 20 months.
In September, Nakheel said it sold 262 homes, with a combined value of AED460mn in the first day of sales at Warsan Village.