Thursday, July 03, 2008

Nakheel, Al Shafar sign deal for construction of 300 villas at Al Furjan

Nakheel, a Dubai World Company which is one of the world’s largest real estate developers, together with a subsidiary to Shafar Group, Al Shafar Transport and Contracting Company, have entered into a contract for construction of 300 villas and terrace homes at Al Furjan development.

Al Furjan villas from NakheelThis contract is a milestone in the development of Al Furjan, followed by the last week's announcement of contract last week between Arabtec and Nakheel for Dh.3bn to build the first 1500 homes of the development.

Al Furjan offers a combination of traditional neighbourhood living, with spacious villas and terraced houses carrying immense open space and ample amenities.

Located towards 540 hectares south of Ibn Battuta Mall, and Discovery Gardens, and The Gardens, Al Furjan boasts about 4000 homes, apart from hotels, apartments, and commercial and mixed use plots in the developments surrounding Al Furjan, housing a total population of 90,000.

The construction is likely to commence during the third quarter of this year, and the delivery of residences will take place by the third quarter of 2010.

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