JIIC awards contract for 150 luxury homes within Abu Dhabi community
15 June 2022 – Trade Arabia BUSINESS NEWS INFORMARTION – www.tradearabia.com
Jubail Island Investment Company (JIIC) has awarded contract worth AED220 million ($60 million) to the Middle East unit of China State Construction Engineering Corporation (CSCEC) for the construction of townhouses within the premium community at Souk Al Jubail on Jubail Island in Abu Dhabi.
Souk Al Jubail is located in the heart of the AED10-billion ($2.72 billion) Jubail Island, a project owned by JIIC and developed and managed by LEAD, which will be home to an idyllic collection of six residential village estates located between Yas Island and Saadiyat Island.
Nestled among the breath-taking natural beauty and rich biodiversity of the mangroves, the landmark community will offer residents every convenience and amenity, seamlessly blending sustainable living, luxury and wellness in an iconic new addition to Abu Dhabi’s real estate landscape.
The 150 townhouses at Souk Al Jubail will feature elegant, spacious and encompassing premium designs, ranging from two-, three- and four-bedrooms in a laidback, tranquil and contented setting offering families premium living through a wide array of luxury townhouse options, stated the developer.
As per the deal, CSCEC will undertake a range of infrastructure works, including sub-structure, superstructure, MEP works, finishing, facades and landscaping, among others during the 22-month contract.
Established in 2006, the contractor is one of the region’s largest construction groups, with offices across the GCC.
JIIC Managing Director Mounir Haidar said: “Yet another important milestone in turning Jubail Island into a reality, we are positive that the elegantly designed homes will appeal to a range of purchasers, and with schools and other amenities located within walking distance, Souk Al Jubail will be a true community.”
Located in the heart of Jubail Island’s community amid some of the UAE’s most beautiful landscapes, surrounded by mangroves and wildlife, Souk Al Jubail comprises a series of walkable residential neighbourhoods, amphitheatre, plazas and green spaces with playgrounds.
Featuring flexible options to suit everyone, the residential homes will have private parking, en suite facilities in every bedroom and will be conveniently located near to gym, schools, supermarkets and entertainment venues.
According to him, the townhouses are due to be completed in April 2024.
“Today’s announcement reflects the strong market sentiment in Abu Dhabi’s real estate sector, with Jubail Island destined to become one of the premier developments in the region. We have already experienced strong demand from buyers in the buoyant real estate sector and we expect Souk Al Jubail to be sold out in record time,” he added.-TradeArabia News Service