636 luxury villas coming to Dubai Islands as Nakheel awards $708m contract

Nakheel has awarded a contract worth AED2.6bn ($708m) to Fibrex Contracting for the construction of the Bay Villas project at Dubai Islands.

The landmark development will feature 636 luxury units across five distinct property types, marking Nakheel’s latest addition to Dubai’s expanding portfolio of premium waterfront communities.

This new contract builds on Nakheel’s longstanding relationship with Fibrex Contracting, following their previous collaboration on the District One West community in Mohammed Bin Rashid Al Maktoum City (MBRAMC).

Nakheel awards Dubai Islands contract

Khalid Al Malik, CEO of Dubai Holding Real Estate, said: “Our partnership with Fibrex Contracting marks a key milestone for Bay Villas, a landmark project that underscores our commitment to shaping Dubai’s future through elevated spaces that residents can proudly call home.

“This development delivers on our vision of designing waterfront communities that prioritise wellbeing, luxury and privacy, all while offering residents an opportunity to enjoy the best of island living.”

Sufyan S. Saleh, Group Managing Director at Fibrex Contracting, said: “We are committed to delivering this flagship development on time, while adhering to the highest industry standards.

“Through advanced construction technologies, specialised in-house capabilities and our trusted supply chain network, we are well-equipped to bring this waterfront community to life.”