Dubai awards latest construction deal for US$1.2bn

Dubai-based developer Wasl Asset Management has awarded a US$1.2 billion contract to build ‘The Island’ project in Dubai to China State Construction Engineering Corporation, reports MEED.

(Photo: By Ranjit Laxman from Cochin, India - Zabeel Park, CC BY 2.0)

The project is located near the Jumeirah public beach next to the Jumeirah Beach Hotel and Marsa al-Arab, off the coast of Umm Suqeim. It is expected to include 1,400 hotel rooms and apartments, along with retail, food and beverage, and entertainment options.

Several firms, including Dutch architect UNStudio, UK designer Brewer Smith Brewer Group, and German firm Buro Kling Architectural Engineering Consultants, are involved in the project.

According to regional projects tracker MEED Projects, it is the largest construction deal to be signed in the emirate since local contractor Alec secured the US$1.36 billion contract to build One Zabeel from local developer Ithra in 2017.

The Island project is situated on a 10.5-hectare island and is intended to comprise properties that showcase the MGM, Bellagio, and Aria hotel brands.