Nakheel, a member of Dubai Holding Real Estate, has awarded Parkway International Contracting LLC a construction contract valued at more than AED 950 million for Phases 2 and 4 of Bay Grove Residences on Dubai Islands.
The contract covers 617 homes, from one to four bedrooms, across eight residential buildings. It also includes basement works, associated infrastructure and amenities such as swimming pools, sports courts and fitness centres.
Phase 2 comprises 360 homes across four buildings, with main construction works expected to finish by late 2028. Phase 4 includes 257 homes across four buildings, with completion anticipated in the second quarter of 2029.
The award follows an earlier Nakheel contract of more than AED 800 million for 537 homes across seven buildings in Phases 1 and 3. Together, the two contracts represent more than AED 1.75 billion in main construction awards and cover all 1,154 planned homes across the project’s 15 buildings.
Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said the award sets a clear construction pathway for a further 617 homes and represents a substantial investment in the long-term development of Dubai Islands. He said the focus remains on delivering high-quality homes, amenities and public spaces for a distinctive waterfront community.
Tarek Zoabi, Managing Partner of Parkway International Contracting LLC, said the team is focused on safe, disciplined delivery across both phases, with close attention to build quality, coordination and the agreed programme.
Bay Grove Residences is planned as a waterfront community with landscaped communal spaces, walking and cycling routes and access to Crystal Beach.
Located off the coast of Deira, Dubai Islands is a five-island waterfront destination spanning 18.6 square kilometres. Its master plan includes residential neighbourhoods, hospitality, parks, leisure and cultural destinations.
News Source: Dubai Media Office
