Dubai Developers Award Construction Contracts Worth Billions Of Dirhams

2026-04-14 02:54:07

(MENAFN- Khaleej Times) Dubai developers have announced the awarding of construction contracts worth billions of dirhams, reflecting confidence in the local property market, as well as strong liquidity and cash flow enjoyed by real estate companies following five years of robust sales.

Dubai Properties, a member of Dubai Holding Real Estate, has awarded contracts worth nearly Dh1.1 billion to Metac General Contracting for the construction of 850 townhouses at Villanova in Dubailand.

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The award covers Phase 1 and Phase 2 of La Tilia, comprising 500 three-bedroom and 350 four-bedroom homes. Phase 1 will deliver 410 units, with Phase 2 adding a further 440 homes. Villanova has delivered 3,834 homes to date.

“The award of these contracts reflects continued demand for high-quality, family-focused communities in Dubai. Villanova has demonstrated strong buyer appeal, and this expansion builds on that momentum,” said Khalid Al Malik, CEO of Dubai Holding Real Estate.

Meanwhile, Azizi Developments has awarded a Dh1.1 billion structural steel construction contract for its Burj Azizi project to the internationally renowned Eversendai Corporation Berhad.

Set to become the second-tallest tower in the world, Burj Azizi is planned as a mixed-use skyscraper in Dubai.

Mirwais Azizi, Chairman of Azizi Developments, said the contract is a step forward in the construction of Burj Azizi.

Sanzen also announced the awarding of a contract and the launch of construction for its Dh1.5 billion residential development, Sukoon, in Sharjah, comprising 859 villas and townhouses across four phases. This reflects the developer's confidence in the UAE economy, the long-term resilience of its real estate sector, and strong buyer demand since launch.

The construction contract for Phase 1 of Sukoon has been awarded to PTC Contracting.

Sanzen said the project will be fully funded by the company, allowing it to absorb fluctuations in material costs and supply chain pressures internally, without passing them on to buyers.

Phase 1 of Sukoon, which consists of 241 villas and townhouses, was sold out on the day it was launched. The company is targeting Dh3 billion in first-year sales.

“The commencement of construction at Sukoon is a defining moment and a statement of confidence in the UAE economy and its real estate sector. Phase 1 selling out on launch day was a clear signal from the market, and today we respond with action,” said Amro Saleh, CEO and founder of Sanzen.

“Despite the current regional conditions, we are moving forward with full confidence, supported by the strength of the UAE economy and the stability of its real estate sector,” said Hesham Mustafa, project manager at PTC Contracting.