DUBAI / WAM
Nakheel has signed a construction contract for Dragon Towers, its new, twin-building residential complex with a total development value of AED713 million ($194mn), to be built at Dubai’s rapidly-expanding Dragon City mixed-use community.
Under the AED552 million contract, handed to UAE-based Ali Mousa and Sons Contracting, mobilisation will begin immediately, with anticipated completion in 2021.
Nakheel also confirmed that Dragon Towers’ apartments will go on sale next week, and is among a range of other Nakheel projects being showcased at the upcoming Cityscape Global.
Directly-connected to the Dragon Mart retail and trading complex, the 37-storey, two tower project comprises one- and two-bedroom apartments; ground and first floor retail; four parking levels and a sixth-floor podium-level clubhouse with a swimming pool, restaurant,
Dragon Towers is a key component of Nakheel’s ongoing retail, hospitality, and residential expansion at Dragon City, which is already home to Dragon Mart 1 and its sister mall, Dragon Mart 2, plus an ibis Styles hotel. A new showroom and car park complex and a second hotel are in advanced stages of construction, with further expansions in the pipeline.