Nakheel signs Dh600m deal with Al Shafar to build homes

Nakheel, a Dubai World company, has signed a Dh600-million agreement with Al Shafar Transport and Contracting Co, a subsidiary of the Al Shafar Group, to build 300 villas and terrace homes at its Al Furjan development.

Construction work at the development will commence in the third quarter of this year. The handover of the first residences is expected to be in the third quarter of 2010.

Mohammed Rashed Bin Dhabeah, Director of Al Furjan, said: "Al Shafar Transport and Contracting Co is a well known contractor with many years of experience. We welcome them to this project."

Ahmed Abdullah Al Shafar, Chairman of Al Shafar, said: "We are pleased to be appointed to work with Nakheel on the Al Furjan project. This is not the first time that Al Shafar has undertaken a contract with Nakheel and this project continues to reflect our desire to be aligned with this prestigious company."