Master developer Nakheel today (September 23) signed a contract for the construction of Dragon Towers, its new, twin-building residential complex with a total development value of Dh713 million ($194 million), to be built at Dubai’s rapidly-expanding Dragon City mixed-use community.

Dragon Towers is a key component of Nakheel’s ongoing retail, hospitality and residential expansion at Dragon City, which is already home to Dragon Mart 1 and its sister mall, Dragon Mart 2, plus an ibis Styles hotel.

A new showroom and car park complex and a second hotel are in advanced stages of construction, with further expansions in the pipeline, said a statement from Nakheel.

The Dh552-million ($150 million) contract was awarded to UAE-based Ali Mousa & Sons Contracting as pwer which the mobilisation work will begin immediately. The construction is likely to be completed in 2021, it stated.

Nakheel also confirmed that Dragon Towers’ apartments will go on sale next week, and is among a range of other Nakheel projects being showcased at the upcoming Cityscape Global.  

Directly-connected to the world-famous Dragon Mart retail and trading complex, the 37-storey, two tower project comprises one- and two-bedroom apartments; ground and first floor retail; four parking levels and a sixth floor podium-level clubhouse with a swimming pool, restaurant and gym.-TradeArabia News Service