LONDON: A contractor has been appointed to carry out initial works for a $1.4 billion island development in Abu Dhabi.
Gulf Contractors Company won the enabling works contract for the Jubail Island project in the UAE capital, the company behind the development said.
The works under the contract are scheduled for completion in January 2020, according to the Jubail Island Investment Company (JIIC), the UAE state news agency WAM reported.
Enabling works generally involve major earthworks and grading of a site, ahead of the installation of infrastructure such as roads, utilities, and other facilities.
Over 2.5 million cubic meters of material will be excavated and placed to create the formation level for over 40 kilometers of roadways and more than 800 residential properties as part of the contracted works, according to WAM.
The giant Jubail Island project will span six “investment zone villages” and will be home to between 5,000 and 6,000 residents, according to the developer.
The project, which has 13 kilometers of waterfront and is being built on a natural island in Abu Dhabi emirate, is slated for completion in the fourth quarter of 2022.
“Offering housing, commercial, leisure and freehold investment opportunities particularly for Emiratis and expatriates is a central planning element for Jubail Island,” said Mounir Haidar, managing director of JIIC.
“Today’s announcement confirms the timely delivery of the newly launched project in conformity with leading construction and environmental standards.”
Abu Dhabi in April amended its real estate laws, lifting restrictions on foreigners owning freehold properties in certain free zones in the emirate.