Abu Dhabi developer Jubail Island Investment Company awarded a Dh86 million contract to Gulf Contractors Company (GCC) to build an interchange at its Jubail Island mega project.
GCC will construct a new interchange, connecting Sheikh Khalifa Highway to the development’s internal road network. Work on the interchange is expected to be complete by August 2021.
“The Jubail Island project is proceeding on schedule, with crucial infrastructure works already being executed in a timely manner and in accordance with highest international standards,” Mounir Haidar, managing director of JIIC said.
Jubail Island, a mixed-used project located between Yas Island and Saadiyat Island, spans 400 hectares and is made up of a mix of high-end and mid-range residential, retail, offices and restaurants. The total investment in the project is Dh5 billion.
It will be split into 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.
JIIC said to date infrastructure contracts valued at Dh486m have been approved and are currently underway at the project.
“With infrastructure works starting in early January 2020, we are excited to confirm that works on villa construction will begin by year end, and villa handover is slated for 2023,” Mr Haider added.
JIIC also awarded a Dh200m contract to GCC last month to undertake other infrastructure works at the project.
Abu Dhabi’s real estate sales are expected to increase during the second half of 2020 on the back of government initiatives and incentive packages offered by various developers, according to the latest report from Chestertons.
More than 5,200 apartments are scheduled for completion during the second half of the year, with Al Maryah Island, Al Reem Island and Al Raha set to see the majority of new supply, according to the report. About 1,700 apartment units were completed during the second quarter.
