Nakheel awards Dh2.6b project for Dubai Islands' homes

New project is one of the biggest contract in the UAE in 2025 to date

Last updated: August 18, 2025 | 12:10

Manoj Nair, Business Editor

1 MIN READ

Nakheel's Bay Villas on Dubai Islands will offer five distinct property types.

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Dubai: Nakheel has awarded a Dh2.6 billion contract to build its Bay Villas on Dubai Islands, making it one of the biggest project awards of the year in the UAE.

Fibrex Contracting has bagged the contract to build the 600 plus luxury homes - in five distinct property types - on the island development.

Fibrex Contracting has worked with Nakheel on the District One West community in Mohammed Bin Rashid Al Maktoum City.

Also Read: Will Naia Island have Dubai's priciest waterfront homes?

Khalid Al Malik, CEO of Dubai Holding Real Estate, said: "This development delivers on our vision of designing waterfront communities that prioritise wellbeing, luxury and privacy, all while offering residents an opportunity to enjoy the best of island living.”

The three-storey beachfront villas will feature six bedrooms, a show kitchen, a rooftop lounge and terrace, and a dedicated dining space. The waterfront villas are set on expansive plots, and the other property types will be split across garden villas, semi-detached villas, and the townhouses the will be set within four- to six-home complexes with private gardens.

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Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.