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Nakheel, a subsidiary of Dubai Real Estate Holding, has awarded a construction contract worth more than $259 million (AED 950 million) to Parkway International Contracting to build 617 residential units in phases II and IV of the Bay Grove Residences project in the Dubai Islands.
According to a press release issued today by Nakheel and seen by Al Masdar Real Estate, the contract includes the construction of eight buildings with units ranging from one to four bedrooms, as well as bottom floors and infrastructure associated with the project, and the common facilities of residents, including swimming pools, sports stadiums and fitness center.
The second phase includes four buildings with a total of 360 residential units, and the main construction work is expected to be completed in late 2028. The fourth phase consists of four buildings with 257 units, with major construction expected to be completed by the second quarter of 2029.
Dubai Islands Construction Contracts
On September 17, 2026, Nakheel announced the award of a contract worth more than $218 million (AED 800 million) to Metac Contracting General, to build 537 housing units in the first and third phases of the project.
The first phase includes 296 units distributed over four buildings, the third phase includes 241 units in three buildings, and the main construction of the two phases is expected to be completed in late 2028.
Thus, the total value of the two main construction contracts for the Baygrove Residences project exceeds about $477 million (1.75 billion dirhams), and they cover the construction of 1,154 housing units distributed over 15 buildings.
Khalid Al Malek, Chief Executive Officer of Dubai Holding Properties, said that the new contract provides a clear framework for the completion of 617 additional housing units, and reflects, in addition to the previous contract, Nakheel’s commitment to developing an integrated residential complex in the Dubai Islands, with a focus on the quality of units, facilities and public spaces.
For his part, Tariq Zoabi, Partner Manager at Parkway International Contracting Company, said that the company focuses on implementing the work in accordance with safety and quality standards, coordinating between the concerned parties and adhering to the approved schedule of the project.
Palm contracts in the Dubai Islands during 2026 included the awarding of infrastructure and basic facilities to Al Nasr Contracting Company, worth about $143.5 million (AED 527 million).
The scope of the contract includes roads, sidewalks, drinking water networks, electricity, telecommunications, drainage and sanitation systems, integration with the central cooling plant network, as well as technical coordination with Island A. These works provide the necessary infrastructure for residential and hospitality development and mixed-use projects on the island B.
On October 8, 2026, Nakheel announced a contract with Mar Marine & Building Contracting to carry out offshore and offshore works on island B, scheduled to be completed by the fourth quarter of 2027, without disclosing the value of the contract. The contract includes the addition of a 320-meter-long beachfront near the Bay Villas complex, the rehabilitation of about three kilometers from the island’s western coastline, the construction of new wave barriers, the removal of existing rock barriers, the creation of a new beach and the rehabilitation of existing beach areas.
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