02 September 2024

Nakheel Secures $220 Million Contract for Marine Works at Palm Jebel Ali

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Nakheel, a subsidiary of Dubai Holding Real Estate, has signed a contract valued at AED 810 million (approximately $221 million) with Belgian firm Jan De Nul Dredging LTD for marine works on the Palm Jebel Ali project.

This project, part of Dubai’s expanding real estate sector, includes dredging, land reclamation, beach profiling, and sand placement.

Key Contract for Palm Jebel Ali

The main goal of this contract is to support the construction of villas on the Palm Jebel Ali island. Jan De Nul Dredging, a member of the Jan De Nul Group, is expected to complete the marine works in just over two years.

According to Nakheel, the first eight fronds will be ready for the commencement of infrastructure and civil works by early 2025.

Infrastructure Development and New Opportunities

This project follows recent infrastructure contracts, including a new public road from Sheikh Zayed Road and improvements to roadways and lighting from the mainland to Palm Jebel Ali.

The initiative, introduced by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, will offer a range of amenities for residents and tourists. The project aligns with Dubai’s Economic Agenda D33 and marks the beginning of a new development phase in the Jebel Ali area.

Future Prospects and Plans

Khalid Al Malik, CEO of Dubai Holding Real Estate, stated: “Partnering with Jan De Nul Dredging underscores our commitment to high standards and innovation. As Nakheel intensifies its activities under Dubai Holding, the expertise of Jan De Nul Dredging in marine, civil, and environmental projects is crucial for accelerating the progress of this transformative development.”

“Palm Jebel Ali, in line with the Dubai 2040 Urban Master Plan, is set to become a global hub offering residents a luxurious waterfront lifestyle with expansive beaches and pristine waters, setting new standards for quality and sustainability.”

Last year, Palm Jebel Ali launched over 700 villas in its first phase, featuring eight different home styles. The island is planned to span 13.4 kilometers, with 16 fronds and 91 kilometers of beachfront, in line with the Dubai 2040 Urban Master Plan’s goal of expanding public beach access.

The project is slated for completion by late 2026 and is expected to become a prominent residential and leisure destination.