Nakheel has awarded a Dh2.3 bn land-reclamation contract for the Port Rashid redevelopment project in Dubai.
Nakheel awards Port Rashid contract
Nakheel has awarded a Dh2.3 billion (US$628 million) land-reclamation contract for the Port Rashid redevelopment project in Dubai, the company said yesterday. The revamp of Port Rashid - which is expected to attract investment of about Dh44bn - was announced by Nakheel earlier this year and has been billed as being comparable with the Canary Wharf in London and the Docklands area in Melbourne, Australia.
The Dutch dredging firm Koninklijke Boskalis Westminster and its joint venture partner DEME, of Belgium, were awarded the contract. Port Rashid, which once handled a large part of the UAE's shipping activities before it was moved to the port of Jebel Ali, will transformed into a major tourist destination, accommodating commercial, residential and hospitality projects and an estimated population of 200,000.
As master developer, Nakheel will be responsible for the project's infrastructure but is believed to be in talks with a number of large developers for potential investment in the development. Work is expected to begin soon and will be carried out over 30 months. The contract includes the reclamation of 5.4 million square metres of land, which will involve the dredging of about 86 million cubic metres of sand.
Work will also include the construction of a breakwater and other shore protection facilities, along with site preparation for a new cruise ship terminal. Among other projects carried out by Boskalis in the Gulf are the reclamation work for The Wave in Muscat, Oman, and a contract won in a joint venture with Van Oord for the reclamation of 10 islands as part of the North Bahrain New Town development.
DEME's work in the region includes the Dh2bn reclamation contract for Dana Island, which is being developed off the coast of Ras al Khaimah. The company has also worked on the Al Marjan island project in RAK and Al Raha Beach in Abu Dhabi. @Email:email@example.com