Nakheel, part of Dubai Holding Real Estate, has awarded a construction contract worth more than AED 950 million to Parkway International Contracting for the development of Phases 2 and 4 of Bay Grove Residences on Dubai Islands.
The contract covers the construction of 617 residential units, ranging from one-bedroom to four-bedroom homes, spread across eight buildings. The work also includes basement levels, associated infrastructure, and a range of amenities for residents, including swimming pools, sports courts, and a fitness center.
Phase 2 will consist of four buildings with a total of 360 residential units. Main construction work is expected to be completed by late 2028. Phase 4 will feature another four buildings comprising 257 units, with main construction scheduled for completion in the second quarter of 2029.
The latest award follows another contract recently issued by Nakheel, valued at more than AED 800 million, for the construction of 537 homes across seven buildings in Phases 1 and 3.
Together, the two contracts cover 1,154 residential units across 15 buildings at Bay Grove Residences, bringing the combined value of the main construction contracts to more than AED 1.75 billion.
Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said: “This contract marks another important step in the development of Bay Grove Residences and provides a clear framework for delivering an additional 617 homes. Together with the previous contract for Phases 1 and 3, this investment reflects Nakheel’s commitment to developing an integrated residential community and supporting the long-term growth of Dubai Islands. Our focus is on delivering high-quality homes, amenities, and public spaces that help establish the project as a residential destination offering distinctive sea views.”
For his part, Tarek Zoubi, Managing Partner at Parkway International Contracting, said: “We are proud to partner with Nakheel in delivering the upcoming phases of Bay Grove Residences. Our team is focused on completing the work efficiently and in accordance with the highest safety and quality standards, while ensuring smooth coordination among all parties and maintaining the project’s approved construction schedule.”
