Dubai: Developer Nakheel is assessing five proposals, with bids starting at just under Dh900 million, for the construction of Dragon Towers, its twin-building residential complex at the Dragon City community in Dubai.
Nakheel expects to award the contract by the end of 2017, with construction completed in 2020.
Dragon Towers comprises 1,140 one and two bedroom apartments across two buildings directly linked to the Dragon Mart retail and trading hub. The complex will have two retail floors, four parking floors and a podium level swimming pool, restaurant and gym.
Dragon Towers is a key element of Dragon City, Nakheel’s 1 million square metres mixed-use master development, currently best known for Dragon Mart.
The Dragon City transformation began in 2012 with the construction of Dragon Mart 2, which opened in 2015, doubling the size of the original Dragon Mart to more than 325,000 square metres.
Dragon City also includes two hotels – a 251-room Ibis Styles that opened in February 2016, and a 304-room Premier Inn that is still under construction.
Nakheel’s current and future retail project portfolio covers nearly 1.57 million square metres of leasable space. Developments include Ibn Battuta Mall, Dragon Mart 1 and 2, Golden Mile Galleria, Nakheel Mall, The Pointe, Deira Mall, Deira Islands Night Souk.
The company’s retail profile also includes several neighbourhood community centres, whilst its hospitality project portfolio comprises 18 hotels and serviced apartment developments at various locations in Dubai, including Palm Jumeirah, Deira Islands, Ibn Battuta Mall, Jumeirah Village and Dragon City.
