Nakheel, a Dubai World company, has signed an agreement with Arabtec Construction to build the first 1,500 homes at its Al Furjan development.
The contract valued at Dh3 billion has been awarded by Nakheel for the construction of villas and terrace homes at the family oriented community. Construction will commence in August 2008, with the first residences expected to be delivered in the third quarter of 2010, Nakheel said.
Mohammed Rashed bin Dhabeah, Director of Al Furjan and Jebel Ali Village, said: "We are excited to partner with Arabtec in the development of the first phase of Al Furjan and we look forward to working in close partnership to realise the creation of this high-quality residential community."
Riad Kamal, Chairman of Arabtec, said: "We are delighted to have been appointed to work with Nakheel on this exciting and prestigious project. As one of the UAE's top construction companies we have undertaken a number of major projects with Nakheel across Dubai, but this is our first opportunity to work with them on their residential projects.
"It is an honour to be awarded the contract to develop the first villas and terrace houses at Al Furjan and we look forward to a long relationship with Nakheel."