Nakheel Awards $259Mn Construction Contract for Bay Grove Residences

Nakheel, a member of Dubai Holding Real Estate, has awarded Parkway International Contracting LLC a construction contract worth more than $258.7 million (AED 950 million) for Phases 2 and 4 of Bay Grove Residences on the Dubai Islands.

The contract covers the construction of 617 homes across eight residential buildings, along with basement works, infrastructure, and amenities, including swimming pools, sports courts, and fitness centers. The homes will range from one to four bedrooms.

Phase 2 will comprise 360 homes across four buildings, with construction expected to be completed by late 2028. Phase 4 will include 257 homes across four buildings, with completion scheduled for the second quarter of 2029.

The latest award follows an earlier contract worth more than $217.8 million (AED 800 million) for 537 homes across seven buildings in Phases 1 and 3. With both contracts, Nakheel has awarded more than $476.5 million (AED 1.75 billion) in main construction contracts, covering all 1,154 planned homes across the development’s 15 buildings.

Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said that the contract establishes the construction schedule for a further 617 homes and forms part of the wider development of Dubai Islands. He added that the company would focus on delivering homes, amenities, and public spaces for residents.

Tarek Zoabi, Managing Partner of Parkway International Contracting LLC, emphasized that the company would focus on safety, construction quality, coordination, and meeting the agreed project timelines.

Bay Grove Residences is planned as a waterfront residential community featuring landscaped communal areas, walking and cycling routes, and access to Crystal Beach.

Dubai Islands is located off the coast of Deira and spans 18.6 square kilometers across five islands. Its master plan includes residential neighborhoods, hotels, parks, leisure facilities, and cultural destinations as part of Dubai’s broader urban development plans.

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