Monday 20 May 2024

Dubai South awards $408m contract for South Bay homes

DUBAI, April 4, 2024

Dubai South Properties has awarded contracts worth AED1.5 billion (($408 million) to Al Kharafi Construction Company for the development of third, fourth and fifth phase of its premium South Bay development. 
Located in the heart of Dubai South’s Residential District alongside Expo Road, South Bay will feature over 800 spacious villas and townhouses, more than 200 luxurious waterfront mansions and a 1-km-long lagoon in addition to more than 3km waterfront promenade with cafes, multiple beaches, a clubhouse and fitness centres.
The prime development also comprises lush parks, a shopping mall, a renowned spa, kids’ clubs, waterparks, swimming pools, a lake park, and private beaches among other amenities. 
Announcing the new contract, Dubai South Properties said it has expedited the launch of the project’s phases, launching Phase 4.
This comes following increased demand from investors and buyers to own a unit at South Bay, Dubai South Properties’ unique development, and the sell-out of the limited inventory that was released before, it stated.
Slated for a Q1 2027 completion, the fourth phase will incorporate 138 units comprising three-, four-, and five-bedroom villas and a limited number of five-to seven-bedroom mansions. 
Last year, Dubai South Properties had appointed Ginco General Contracting for the construction of the first two phases and the infrastructure facilities for the project.
On the new contract, CEO Nabil Al Kindi said: "We are confident that the expertise of the appointed contractor will help us realise this project, which will be an ideal option for those seeking quality living with world-class amenities. The project has witnessed lots of interest since its launch due to its strategic location, modern amenities, and unique selling points."
"The sell-out of each phase upon launching onto the market exemplifies South Bay’s uniqueness. At Dubai South, our mandate is to develop projects that cater to the demand for premium residences and enrich the lifestyles of residents," he stated.
"We are also excited to announce that soon we will be launching our next project specifically catering to the demand for high quality apartments in Dubai South, which will be a first-of-its-kind in Dubai South," noted Al Kindi. 
"This new development promises an elevated living experience with meticulously crafted luxury finishes and thoughtfully designed amenities. We will continue with our well-studied approach of launching projects that add value to our discerning customers and we are confident that our new development will create huge interest among investors," he added.-TradeArabia News Service


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