The project is located on the Palm Jumeirah in Dubai
Beijing-headquartered China Railway Fourth Engineering Bureau has won a contract to build the Armani Beach Residences project on Dubai’s Palm Jumeirah.
The contract was awarded by Sharjah-based real estate developer Arada.
The development will offer 53 residential apartments designed in partnership with Armani/Casa Interior Design Studio and Japanese architect Tadao Ando.
The enabling works on the project, which include shoring, piling, dewatering and excavation, are nearing completion and are being undertaken by local firm International Foundation Group.
The construction works are expected to start immediately, and the project is slated for completion in 2027.
The contract award follows Arada’s signing of a AED604m ($164m) deal in March to construct the first phase of the Arada Central Business District project in Aljada, Sharjah.
The contract was awarded to the local Modern Building Contracting Company.
Arada is the developer behind three masterplanned residential communities in Sharjah. The Aljada, Masaar and Nasma Residences communities are together valued at AED33bn. In Dubai, Arada is developing the Jouri Hills project.
Covering 24 million square feet in the Muwaileh district, the masterplan for Aljada includes residential districts, as well as retail, hospitality, entertainment, sporting, educational and healthcare components, and a business park.
The UAE’s heightened real estate activity is in line with UK data analyst GlobalData’s forecast that the construction industry in the country will register annual growth of 3.9% in 2025-27, supported by investments in infrastructure, renewable energy, oil and gas, housing, industrial and tourism projects.
The residential construction sector is expected to record an annual average growth rate of 2.7% in 2025-28, supported by private investments in the residential housing sector, along with government initiatives to meet rising housing demand.
READ THE JULY 2025 MEED BUSINESS REVIEW – click here to view PDF
UAE and Turkiye expand business links; Renewed hope lies on the horizon for trouble-beset Levant region; Gulf real estate momentum continues even as concerns emerge
Distributed to senior decision-makers in the region and around the world, the July 2025 edition of MEED Business Review includes:
> AGENDA: UAE-Turkiye trade gains momentum > INTERVIEW 1: Building on UAE-Turkiye trade > INTERVIEW 2: Turkiye's Kalyon goes global > INTERVIEW 3: Strengthening UAE-Turkiye financial links > INTERVIEW 4: Turkish Airlines plans further growth > CURRENT AFFAIRS: Middle East tensions could reduce gas investments > GCC REAL ESTATE: Gulf real estate faces a more nuanced reality > PROJECTS MARKET: GCC projects market collapses > INTERVIEW 5: Hassan Allam eyes role in Saudi Arabia’s transformation > INTERVIEW 6: Aseer region seeks new investments for Saudi Arabia > LEADERSHIP: Nuclear power makes a global comeback > LEVANT MARKET FOCUS: Levant states wrestle regional pressures > GULF PROJECTS INDEX: Gulf projects index continues climb > CONTRACT AWARDS: Mena contract award activity remains subdued > ECONOMIC DATA: Data drives regional projects > OPINION: A farcical tragedy that no one can end |
To see previous issues of MEED Business Review, please click here
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