Local developer Wasl has awarded the estimated AED4.4bn ($1.2bn) contract to build The Island project in Dubai to Beijing-based China State Construction Engineering Corporation.
The contract award is a significant moment for Dubai. According to regional projects tracker MEED Projects, it is the largest construction deal to be signed in the emirate since local contractor Alec secured the $1.36bn contract to build One Zabeel from local developer Ithra in 2017.
The award comes at a time of increased optimism for Dubai's projects market. On 24 November, the emirate approved the $4.9bn Blue Line extension to the Dubai Metro network.
The Island project is located on a 10.5 hectare island. The project is planned to include properties featuring the MGM, Bellagio and Aria hotel brands. MGM operates casinos in other jurisdictions and there is an expectation in the market that The Island could be home to gambling facilities if the UAE passes legislation that legalises gambling.
The project is located off the coast of Umm Suqeim, near the Jumeirah public beach next to the Jumeirah Beach Hotel and Marsa al-Arab. It is expected to feature 1,400 hotel rooms and apartments, in addition to retail, food and beverage and entertainment options.
The local APCC is the earthworks contractor. Germany’s Buro Kling Architectural Engineering Consultants is the main consultant and structural consultant. Consultant HSS is also working on the project.
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