Dubai-based developer Nakheel has awarded construction contracts approaching $1 billion for works on Palm Jebel Ali.
The government-owned master developer, now part of Dubai Holding’s real estate arm, has signed agreements worth AED3.5 billion ($953 million) with Ginco General Contracting and United Engineering Construction (Unec) to develop 544 villas.
The announcement, made on Monday, follows remarks by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, stating that the emirate will fast-track development despite the ongoing US-Israeli conflict involving Iran.
According to the developer, Ginco will oversee the construction of 354 villas across Fronds A to D, while Unec will be responsible for 190 villas on Fronds E and F, as reported by state news agency Wam.
Construction is set to commence in the second quarter of 2026, with completion targeted for the fourth quarter of 2028.
This development comes after Nakheel awarded a $144 million contract for infrastructure and utility works on Island B within the Dubai Islands project.
Khalid Al Malik, CEO of Dubai Holding Real Estate, stated that the contract awards mark concrete progress in advancing Palm Jebel Ali, with construction now underway across several fronds.
Originally unveiled in 2002, Palm Jebel Ali is now expected to be completed by 2028, according to Dubai Land Department data cited in a January report by AGBI.
