Local developer Nakheel has awarded South Korea's Samsung Corporation an estimated $1.1bn contract to build the Village Centre development on the Palm Jumeirah.
The design of the project is being completed and the value of the contract has not been finalised.
Located on the island's trunk, the project involves the construction of a four-storey retail centre with two, 42-storey residential towers. It will have 120,000 square metres of retail space and 150,000 sq m of residential space.
Singapore's RSP is the consultant.
In early December Nakheel terminated a contract with the local/South African joint venture of Al-Habtoor Engineering Enterprises and Murray & Roberts Contractors (Middle East) to build the Trump International hotel and tower, which was to be located next to the Village Centre. It has also put other projects at Dubai Waterfront, Palm Jebel Ali and Palm Deira on hold (MEED 1:12:08).
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