Jubail Island awards Dh80m contract for Dh5bn Abu Dhabi project
The destination, located between Yas Island and Saadiyat Island, is a15-minute drive from downtown Abu Dhabi
Jubail Island Investment Company, the firm set up in April to build a Dh5 billion mixed-use mega-project on an undeveloped island in Abu Dhabi, awarded an Dh80 million infrastructure works contract to Gulf Contractors Company (GCC).
Work on two of the six villages that form part of the development, have already commenced as part of the 18-month contract.
“Following the completion of the enabling works, we are delighted to confirm the start of phase one of infrastructure works on Jubail Island, demonstrating our commitment to on-time delivery of plots as early as Q3 2021," JIIC managing director Mounir Haidar said in a statement.
Around Dh120m in contracts for infrastructure work on the island have been awarded so far, with the total work expected to cost up to Dh600m.
GCC will construct a 3 kilometre loop road circling Souk Al Jubail to connect neighbouring villages, as well as 5km of internal roads in Marfaa Al Jubai. The scope will include utility infrastructure development including utilities, telecoms, gas networks and street lighting.
Jubail Island is located between Yas Island and Saadiyat Island and is a 15-minute drive from downtown Abu Dhabi. The project master plan spans 400 hectares and comprises a mix of high-end and mid-range residential, as well as retail units, offices and restaurants. Its developer wants it to become Abu Dhabi’s “sanctuary” for wellness and nature enthusiasts.
The scheme 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 UAE nationals and foreign investors, under the emirate’s new freehold ownership rules enacted in April.
Previously, foreigners were only allowed to buy property leaseholds, for a maximum of 99 years. However, the government amended the rule in April through a royal decree, in a move aimed at supporting the capital’s real estate market, boosting foreign direct investment and strengthening its economy.
Updated: December 14, 2019 03:32 PM