Dubai South Properties has made a significant move in the property market, awarding Al Kharafi Construction Company a construction contract valued at 1.5 billion UAE dirhams ($409 million) for their South Bay project. The company announced this on Thursday, 4th April 2024.
In a press release, the business stated that the contractor will develop phases 3, 4, and 5. The recently unveiled Phase 4 will be finished by the first quarter of 2027, with 138 units total—three, four, and five-bedroom villas and five to seven-bedroom mansions.
Dubai South selected GINCO General Contracting last year to build the project’s infrastructure facilities and first two phases.
South Bay, a unique development spanning six phases, offers more than 800 spacious villas and townhouses, over 200 luxurious waterfront homes, a shopping center, parks, a three-kilometer waterfront promenade, and a one-kilometer lagoon, setting a new standard in luxury living.
The CEO of Dubai South Properties went on to say, “We are also happy to announce that we will be releasing our next project shortly, specifically to meet the demand for premium apartments in Dubai South.” This will be a first-of-its-kind in Dubai South.”
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Further amenities being added to the Residential District by Dubai South include a 50,000-square-foot hypermarket, a mosque, a gas station, public parks, sports courts, retail establishments and a bus line that connects the neighborhood to the Expo Metro station. Construction of the school, which follows a British curriculum.
In conclusion, Dubai South’s investment of $409 million in new construction projects is a clear indication of the region’s robust economic growth. It is a promising time for skilled professionals in the construction and engineering industries, especially those looking for job opportunities in the Middle East.
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