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Nakheel's 2017 contract awards may cross $3bn mark

The company has handed construction deals worth $1.9bn thus far, and is currently implementing projects with $13.6bn in infra and construction costs across Dubai

One of Nakheel's six project launches at Cityscape Global 2017 will be situated at Palm Jumeirah.
One of Nakheel's six project launches at Cityscape Global 2017 will be situated at Palm Jumeirah.

UAE-based property developer, Nakheel, expects to award contracts worth more than $3.3bn (AED12bn) by the end of this year. 

The company has awarded deals worth $1.9bn (AED7bn) so far this year.

Projects with $13.6bn (AED50bn) in construction and infrastructure costs are currently being implemented by the company across Dubai. 

Cityscape Global 2017, to be held in Dubai between 11 and 13 September, will see the company launch six residential, retail, and hospitality projects at four of its Dubai communities. 

Of the six projects, which are worth $871.2m (AED3.2bn), one will be situated within Nakheel's Palm Jumeirah master development (pictured). 

The company's portfolio features 27,000 investors, who have spent more than $30bn (AED110bn) on Nakheel properties since they first went on sale in 2002, according to Dubai Media Office

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Construction Week - Issue 751
Oct 13, 2019