(MENAFN- Mid-East Info) Phase III will add 370 integrated contemporary residential units

. Strategically located near Dubai's major landmarks and entertainment hubs

Infracorp, a leading developer and manager of social and sustainable infrastructure, announced the signing of a strategic agreement with Abr Al Mutawassit Contracting Co. L.L.C., one of the region's most esteemed construction firms, to execute the third phase of its ambitious residential project, California Residences, located in the heart of Dubai.

The agreement was signed by Mr Majed Al Khan, Chief Executive Officer and Board Member of Infracorp, and Mr Wael Al Sahawneh, Chief Financial Officer of Abr Al Mutawassit Contracting, marking a new milestone in the development of this project.

This partnership will launch the third phase of California Village, which will include the development of 370 luxury residential units designed in line with the latest quality standards and contemporary designs that meet the needs of modern families.

It is noteworthy that the third phase of the project, known as California Residences, is an extension of the remarkable success achieved in the first and second phases of California Village, which were fully completed and delivered to buyers following the conclusion of all construction works. California Village as a whole comprises more than 600 residential units, including villas, apartments, and townhouses, offering spacious layouts and elegant designs that strike a perfect balance between urban living and modern housing needs.

The project's market value exceeds USD 350 million and it extends across 112,127 square metres in a prime location near Shaikh Mohammed bin Zayed Road, IMG Worlds of Adventure, and Global Village, providing a fully integrated residential destination with modern amenities and upscale services that enable residents to enjoy an active and healthy lifestyle.

Mr Majed Al Khan, CEO and Board Member of Infracorp, said:“We are delighted to announce our partnership with Abr Al Mutawassit Contracting, which has a proven record of excellence and achievement in the construction sector, and is renowned for applying the highest global quality standards and ensuring precise, on-time delivery. Our choice of Abr Al Mutawassit to implement Phase III of California Village reflects our confidence in their ability to realise our ambitious vision for this project, which is to create a sustainable residential community that combines luxury, comfort, and integrated services.”

He added:“This project constitutes a key part of our strategy to expand into Dubai's promising real estate market. The launch of Phase III, California Residences, comes as a continuation of the great success achieved in Phases I and II, with all units delivered successfully. We are confident that Phase III of California Village will be a valuable addition to the emirate's urban landscape.”

Mr Wael Al Sahawneh, Chief Financial Officer of Abr Al Mutawassit Contracting, said:“We are proud of our partnership with Infracorp and look forward to leveraging our decades of expertise in contracting to deliver this distinguished project to the highest standards of quality and precision. California Village represents a forward-looking vision for residential communities, and we are excited to contribute to turning this vision into reality.”

He added:“At Abr Al Mutawassit Contracting, we are committed to applying the finest engineering practices and international standards to ensure the project is completed within the specified timeframe, with quality that rivals the best real estate developments in the region, while also reinforcing Dubai's position as a unique and outstanding destination for living and investment.”

About Infracorp:

Infracorp B.S.C., is a company specialised in investing in the infrastructure and sustainability development sector, with a capital of USD 1.2 billion. Infracorp manages a portfolio of nearly USD 3 billion in infrastructure assets, including a 250 million square feet land bank in the GCC, North Africa and South Asia, which is earmarked for sustainable economic and social infrastructure. Infracorp's sustainability strategy is designed to generate strong long-term returns for investors through proactive management of ESG risks, and by embracing opportunities for value creation in the sustainable investment ecosystem.

About Abr Al Mutawassit Contracting Co. L.L.C.

Abr Al Mutawassit Contracting is one of the region's leading construction and contracting firms, with extensive experience in implementing major projects across various sectors. The company is renowned for its commitment to the highest standards of quality and safety at all stages of work, from planning through to delivery. Abr Al Mutawassit Contracting has executed numerous successful projects, including residential and commercial buildings, integrated communities, and infrastructure developments, earning it a strong reputation and high reliability in the region's real-estate market. The company relies on a specialised and professional team, in addition to utilising the latest technologies and engineering practices, to ensure projects are delivered on time and to the highest quality standards that meet and exceed client expectations.

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