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Nakheel signs contract with Al Shafar

- July 1, 2008, 12:29 pm

Nakheel, a Dubai World company and one of the world’s largest and most innovative real estate developers, has signed an agreement with Al Shafar Transport and Contracting Co LLC, a subsidiary of Al Shafar Group, to build 300 villas and terrace homes at its Al Furjan development.

The contract valued at AED 600 million is a further milestone in the development of Al Furjan and follows the announcement last week that Arabtec had reached an agreement with Nakheel to build the first 1,500 homes of the development in a contract worth AED 3 billion.

Engineer Mohammed Rashed Bin Dhabeah, Director of Al Furjan, said:

“Al Shafar Transport and Contracting Co LLC is a well known and respected contractor with many years of experience in the construction industry of Dubai. It is with great pleasure that we welcome them to this project.”

Ahmed Abdullah Al Shafar, Chairman of Al Shafar Transport and Contracting Co LLC, said:

“We are extremely pleased to have been appointed to work with Nakheel on the Al Furjan project. This is not the first time that Al Shafar Transport and Contracting Co LLC has undertaken a contract with Nakheel and this project continues to reflect our desire to be aligned with this prestigious company.”

Al Furjan captures the principles of traditional neighbourhood living, combining spacious villas and terraced housing with abundant open spaces and a multitude of amenities. Set in 540 hectares south of Ibn Battuta Mall and adjacent to Discovery Gardens and The Gardens, Al Furjan will boast more than 4,000 homes. Combined with apartments, hotels and commercial and mixed use plots in the developments surrounding Al Furjan, this will result in a day time population of approximately 90,000 people.

Construction will commence in the third quarter of this year with the handover of the first residences expected to be in the third quarter of 2010.

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