Nakheel to award contract for Dragon Towers this year

Dubai developer Nakheel has said that it assessing five proposals for the construction of Dragon Towers, its twin-building residential complex at Dragon City.

The bids start at just under Dhs900m, a statement said.

Nakheel expects to award the contract by the end of 2017, with construction completion anticipated in 2020.

Dragon Towers includes 1,140 one and two bedroom apartments across two buildings directly linked to Dragon Mart – the world’s largest Chinese trading hub outside mainland China.

The residential complex will have two retail floors, four parking floors, a podium level swimming pool, restaurant and gym.

Dragon Towers is a part of the Dragon City project, a 11 million sq ft mixed-use master development that currently features Dragon Mart mall and Dragon Mart 2 – a Dhs1bn complex which opened in 2015, doubling the size of the original retail hub to more than 3.5 million sq ft.

Dragon City also includes two hotels – a 251-room ibis Styles that opened in February 2016 and a 304-room Premier Inn under construction.

Nakheel awarded the Dhs136m main contract for Premier Inn to Al Ghurair Contracting and Engineering Works earlier this year.

The hotel, spread across 178,000 sq ft of built up area over eight floors, includes a Costa coffee shop and gym. It is the second Nakheel property to be managed by the Premier Inn after the opening of a hotel at Ibn Battuta Mall last year.

Work on the Dhs176m project is set to be completed in 2019.

The wider Dragon City project will also feature a 375,000 sq ft showroom complex and car park, also under construction.

The complex will have 18 showrooms and a multi-storey car park for 900 vehicles.All of the 118,000 sq ft of leasing space has already been booked, Nakheel confirmed in 2016.

The complex is slated for completion in 2018.

Read more: Dubai’s Nakheel to build new 375,000 sq ft retail complex at Dragon City