Nakheel plans contract awards worth $2.7bn in 2017

The developer is planning to award a number of main contracts in the next 12 months worth $2.7bn

NEWS, Business, Contracts, 2017, Dubai, NAKHEEL

Dubai-based developer Nakheel says it is expecting a 66% increase in contract awards in 2017, worth a total of at least $2.7bn (AED10bn) over the next 12 months.

The developer is planning to award a number of main contracts this year including a 600,000sqm mall on the Deira Islands project, a contract for the Jebel Ali Gardens site, and a contract for the 220 metre-high hotel and residential tower complex, Palm 360, The National reported.

Nakheel also said last year that it will award the contract for the construction of the 1,278sqm Warsan Clubhouse at Warsan Village, Dubai, by mid-January 2017.

Around $1.6bn (AED6bn) worth of contracts were awarded in 2016, including $626m worth of awards for retail projects.

Nakheel currently has more than 2,300 units in various projects under construction, including 934 units nearing completion at the Warsan Village community.

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