Dubai: Nakheel, a member of Dubai Holding Real Estate, has awarded a contract worth AED2.6 billion to Fibrex Contracting for the construction of the Bay Villas project at the Dubai Islands. Featuring 636 luxury units across five distinct property types, Bay Villas represents Nakheel's newest waterfront community development.
According to Emirates News Agency, this partnership builds on Nakheel's existing relationship with Fibrex Contracting, which included collaborative work on the District One West community in Mohammed Bin Rashid Al Maktoum City (MBRAMC).
Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, stated that the partnership with Fibrex Contracting marks a key milestone for Bay Villas. He emphasized the project's importance in shaping Dubai's future through elevated residential spaces, highlighting its focus on wellbeing, luxury, and privacy. The development aims to offer residents an opportunity to enjoy island living.
Sufyan S. Saleh, Group Managing Director at Fibrex Contracting, expressed commitment to delivering the development on time while maintaining industry standards. He mentioned the use of advanced construction technologies and a trusted supply chain network to bring this waterfront community to life.
