Nakheel awards AED2.6 billion contract for Bay Villas project in Dubai

Nakheel, a member of Dubai Holding Real Estate, has awarded a contract worth AED2.6 billion to Fibrex Contracting for the construction of the Bay Villas project at the Dubai Islands.

Featuring 636 luxury units across five distinct property types, Bay Villas represents Nakheel's newest waterfront community development.

This partnership builds on Nakheel's existing relationship with Fibrex Contracting, which included collaborative work on the District One West community in Mohammed Bin Rashid Al Maktoum City (MBRAMC).

Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said, "Our partnership with Fibrex Contracting marks a key milestone for Bay Villas, a landmark project that underscores our commitment to shaping Dubai’s future through elevated spaces that residents can proudly call home. This development delivers on our vision of designing waterfront communities that prioritise wellbeing, luxury and privacy, all while offering residents an opportunity to enjoy the best of island living.”

Sufyan S. Saleh, Group Managing Director at Fibrex Contracting, said, “We are committed to delivering this flagship development on time, while adhering to the highest industry standards. Through advanced construction technologies, specialised in-house capabilities and our trusted supply chain network, we are well-equipped to bring this waterfront community to life.”