Real estate master developer Nakheel has confirmed that the Dubai government will provide funding for completion of Jumeirah Golf Estates (JGE) development with infrastructure work recommencing on the project.
“The Government of Dubai has committed to providing significant financial support to Jumeirah Golf Estates, home of the Dubai World Championship. In turn, we are committed to managing and delivering this key project for Dubai. Our contractors have recommenced work at the development," the Dubai-based company said in a statement.
“We are liaising with all Jumeirah Golf Estates customers in relation to the project’s progress,” it added.
In February, a company spokesperson told Emirates 24/7 that negotiations with contractors were on-going regarding the way forward, focusing on finalizing delivery programmes and completion schedules.
“The aim is to move forward with the original delivery team for the project,” she added.
The master development, which will have over 306 homes, mostly villas, is scheduled for completion in 2012.
In 2007, we reported that close to $10 billion will be invested in developing the master community which would be spread across 1119 hectares.
In November 2010, Nakheel had said it would recommence work on the Jumeirah Golf Estates after receiving state support from the Dubai government. The project was originally planned by Dubai World subsidiary Leisurecorp which was merged with Nakheel in June last year.
The developer had suspended construction on two of the four courses in 2009.
Abhishek and Aishwarya Rai Bachchan have bought a villa in Sanctuary Falls project, one of the boutique villa projects being developed by third-party developers in the master development.