Nakheel has signed an agreement with Al Shafar Transport and Contracting Company, a subsidiary of Al Shafar Group, to build 300 villas and terrace homes at its Al Furjan development.

The contract valued at Dh600 million ($163 million) is a further milestone in the development of Al Furjan and follows the announcement last week that Arabtec had inked a Dh3 billion ($816.7 million) deal With Nakheel to build the first 1,500 homes of the development. 

Al Furjan captures the principles of traditional neighbourhood living, combining spacious villas and terraced housing with abundant open spaces and a multitude of amenities.

Set in 540 hectares south of Ibn Battuta Mall and adjacent to Discovery Gardens and The Gardens, Al Furjan will boast of more than 4,000 homes.

Combined with apartments, hotels and commercial and mixed use plots in the developments surrounding Al Furjan, it will result in a day time population of 90,000 people.

"The construction will commence in the third quarter of this year with the handover of the first residences expected to be in the third quarter of 2010, said Mohammed Rashed Bin Dhabeah, Al Furjan director said.

Ahmed Abdullah Al Shafar, chairman of Al Shafar Transport and Contracting said, "We are extremely pleased to have been appointed to work with Nakheel on the Al Furjan project." 

"This is not the first time that Al Shafar has undertaken a contract with Nakheel and this project continues to reflect our desire to be aligned with this prestigious company,” he added-TradeArabia News Service