Jubail Island Investment Company awards Dh200m contract for its Abu Dhabi project
The works are part of an 18-month contract to complete the infrastructure required on the Dh5bn Jubail Island development
Abu Dhabi developer Jubail Island Investment Company awarded a Dh200 million contract to Gulf Contractors Company for infrastructure work at its Jubail Island mega project.
The works are part of an 18-month contract to complete the infrastructure required for the remaining residential villages as part of the first phase of the Dh5 billion project in the emirate, the developer said on Tuesday.
GCC will construct over 47.5 kilometres of internal roads in Nad Al Dhabi, Seef Al Jubail and Ain Al Maha villages.
The work also involves the development of electricity, water, sewage, irrigation, telecom and gas networks and street lighting at the project.
“Following the commencement of construction for the initial infrastructure works in early 2020, we are delighted to confirm the start of infrastructure works to complete the remaining Phase 1 villages on Jubail Island, demonstrating our dedicated commitment to on-time delivery of plots as early as the third quarter of 2021,” Mounir Haidar, the developer's managing director, said.
The developer awarded a Dh80m contract for infrastructure works for the initial village and central loop road in December 2019 to GCC.
Jubail Island Investment Company said contracts for infrastructure works worth Dh400m have been awarded so far for the project.
Jubail Island, a mixed-used project located between Yas Island and Saadiyat Island, spans 400 hectares and comprises a mix of high-end and mid-range residential, retail units, offices and restaurants.
The project will feature six investment zone villages – Marafaa Al Jubail, Nad Al Dhabi, Seef Al Jubail, Ain Al Maha, Souk Al Jubail and Bed’a Al Jubail – with freehold property available for sale to both Emiratis and non-Emiratis under the emirate’s new freehold ownership rules enacted last year.
Previously, foreigners were only allowed to buy leasehold property, for a maximum of 99 years.
However, the government amended the rule in April 2019 through a royal decree, to support the capital’s real estate market, boost foreign direct investment and strengthen its economy.
Updated: June 2, 2020 03:13 PM