Nakheel tenders Warsan and Al-Furjan construction work

07 January 2014

Contractors needed by Dubai developer Nakheel to build villas, townhouses and retail outlets

Dubai-based developer Nakheel has issued a raft of new tenders for the construction of villas, townhouses and retail outlets at some of its real estate developments in the emirate.

In the first tender, contractors are needed to build 936 townhouses, a recreation centre, mosque and associated facilities at Warsan Village in the International City housing development. Set on a 47.5 hectare site on the southwest side of International City, Warsan Village will offer nearly 1,200 homes, including 250 courtyard apartments, upon completion.

The three-bedroom townhomes each span 2,013 square feet and come with a maid’s room, three bathrooms, powder room, two balconies, private garden and parking for two cars. The deadline for bids is 9 February.

Also at International City, Nakheel is seeking bids for a contract to build a retail centre comprising 30 units with a mix of retail, food and beverage, coffee shops and a supermarket as an anchor retailer. The site has a total area of 23,638 square metres with a total built up area of 10,581.66 sq m. The deadline for bids is 28 January.

Lastly, the developer has floated two construction packages for its Al-Furjan residential community located between Sheikh Zayed Road and Sheikh Mohammed bin Zayed Road, close to Ibn Battuta Mall.

Package 4 entails construction and maintenance of 249 villas and terrace homes at the community. Package 6 involves construction and maintenance of a further 152 villas and terrace homes at the community. The deadline for both contracts is 12 January.

Last week, Nakheel revealed it will be largely debt-free by September 2015, as it starts to prepay bank debt and outperforms the restructuring plan it set in 2011 by AED22bn ($6bn).

The developer’s first move is to prepay AED2.35bn of bank debt by the end of February this year. The early payment constitutes more than one-third of its total bank debt of AED6.8bn due for repayment in September 2015. It will pay a further AED1.65bn in August this year. Then, in February 2015, it will pay AED1.5bn, and in September the same year it will pay another AED1.5bn.

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