The appointed consultants are:
- MEECON (Middle East Engineering Consultants)
- Golden Square Engineering
- Eng. Adnan Saffarini Office
- Arif & Bintoak Consulting Architects & Engineers
- Design Centre Architects & Engineers Consultants
- Bel-Yoahah Architectural & Engineering Consultants
The project, which will be built in the Dubai Waterfront area to the south of Jebel Ali Free Zone, includes 42 towers that have been designed to house 40,000 people in nearly 10,000 apartments. The units will be part of Nakheels leasing portfolio.
Nakheel says tenders for the construction work will be released in the first quarter of 2017 and completion is expected in the first quarter of 2020.
The developer formally launched the Jebel Ali Gardens scheme in September 2015. The overall project will cover an area of 520,000 square metres and will have a total built-up area of more than 1.7 million sq m.
The key components of the Jebel Ali Gardens development are:
- 5.5 million-square-foot site
- 19 million-sq-ft built-up area
- 42 buildings in 12 blocks ranging from 18 to 29 floors
- Gym in each block with panoramic views over the central park
- 9,986 apartments ranging from one to three bedrooms
- 40,000 projected population
- Ample covered parking spaces for residents with controlled access
- Ample visitor parking spaces
- 1.1 million sq ft of green parks
- Three mosques
- Jogging track of 2 kilometres
- Four swimming pools
- Two basketball courts
- Two tennis courts
- Two football pitches
Nakheel residential leasing projects
A key source of recurring revenue for Nakheel in the future will be leasing residential properties. In 2010, the firm had 16,363 units. This number grew marginally in 2016, with another 440 units added, and will grow again in 2018 with another 132 units. The figure will then more than double after 2018, when 18,742 units are delivered, with most coming from Nakheels Palm Jumeirah, Nad al-Sheba, Jebel Ali Gardens and Deira Islands developments.
Nakheel becomes debt-free
Ali Rashid Lootah, Nakheel
Dubai property developer Nakheel became a debt-free company on 25 August, when it paid its AED4.4bn ($1.2bn) trade creditor sukuk (Islamic bond).
We will be a debt-free company, said Nakheel chairman Ali Rashid Lootah, speaking on 22 August. It was a challenging period we went through, we achieved it in a quick manner and managed to deliver on all of our commitments ahead of time and to launch new projects.
Nakheels journey to clear its debts began in January 2014, when it shocked many in the market by saying it would pay off its bank debt four years ahead of time. Read more