Business | Construction
Nakheel awards Dh2.2b contract for Mina Rashid
Nakheel on Sunday said it has awarded a Dh2.2 billion contract to a joint venture between Dredging International and Boskalis Westminster Middle East to reclaim land at Mina Rashid, the newly rebranded project redevelopment at Port Rashid.
- Staff Report
- Published: 00:08 July 14, 2008
Dubai: Nakheel on Sunday said it has awarded a Dh2.2 billion contract to a joint venture between Dredging International and Boskalis Westminster Middle East to reclaim land at Mina Rashid, the newly rebranded project redevelopment at Port Rashid.
"The contract will include a sizeable amount of land reclamation, including the construction of a breakwater and shore protection. Approximately 86 million metre cube of sand will be dredged reclaiming 540 hectares of new land. Work will start immediately and will be completed within a period of two and a half years," Nakheel said.
Stage one
Nakheel has completed stage one of land sales at Mina Rashid. More than 20 plots have been sold to local, regional and international developers and will be handed over at the end of this year.
Nakheel recently invited a number of developers to look at its redevelopment plans for Port Rashid and available plots were sold out in a matter of weeks.
Abdul Rahman Kalantar, managing director of design and planning, Nakheel, said: "Mina Rashid will be very carefully planned."
The Mina Rashid development will be approximately 760 hectares in size and around 600 hectares will be reclaimed.
The project will provide a balance of residential, office and commercial development within an urban waterfront environment.
It will have 17.5 kilometres of waterfront promenade and the projected population will be 225,000 people.
Mina Rashid will have a host of public transport options including an internal mass transit and water taxi system that will provide links to the Dubai Metro, Dubai Maritime City and Palm Deira.
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