Nakheel Awards AED 950 Mn Contract for 617 Bay Grove Homes

Nakheel awards Parkway International Contracting a contract worth over AED 950 million for 617 homes at Bay Grove Residences on Dubai Islands, taking total construction awards for the 1,154-home project above AED 1.75 billion.

Nakheel, a member of Dubai Holding Real Estate, awards a construction contract worth more than AED 950 million to Parkway International Contracting LLC for Phases 2 and 4 of Bay Grove Residences on Dubai Islands. The contract covers 617 homes across eight residential buildings, advancing the delivery of the waterfront residential development.

The homes range from one to four bedrooms, with the construction scope also including basement works, associated infrastructure and resident amenities such as swimming pools, sports courts and fitness centres. The project is designed to combine residential living with landscaped communal spaces, walking and cycling routes, and access to Crystal Beach.

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Phase 2 comprises 360 homes across four buildings, with main construction works expected to be completed by late 2028. Phase 4 includes another 257 homes across four buildings, with completion anticipated in the second quarter of 2029.

The latest contract follows an earlier award exceeding AED 800 million to Metac General Contracting Co for Phases 1 and 3, covering 537 homes across seven buildings. Together, the two contracts represent more than AED 1.75 billion in main construction awards and cover all 1,154 planned homes across the development’s 15 residential buildings.

Khalid Al Malik, chief executive officer of Dubai Holding Real Estate, says the contract establishes a clear construction pathway for an additional 617 homes and supports the long-term development of Dubai Islands. Parkway International Contracting Managing Partner Tarek Zoabi says the company will focus on construction quality, safety, coordination and adherence to the agreed delivery schedule.

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Located off the coast of Deira, Dubai Islands spans 18.6 square kilometres across five islands. The master-planned destination incorporates residential neighbourhoods, hospitality projects, parks, leisure facilities and cultural destinations as part of Dubai’s wider urban development strategy.

The construction award marks another milestone for Bay Grove Residences as Nakheel progresses with the delivery of its full residential inventory. The phased construction schedule also provides a framework for bringing the remaining homes to completion between late 2028 and the second quarter of 2029.