The Roads and Transport Authority (RTA) of Dubai has awarded a contract worth AED375M ($102M) for the construction of the tunnels and roads leading to the Jewel of the Creek project.
The awarding of the contract was coordinated with the Dubai International Real Estate Company (DIRE), according to a statement from RTA.
RTA has signed a memorandum of understanding (MoU) with DIRE for funding the construction of tunnels and roads leading to the project.
The Jewel of the Creek project, located between Al Maktoum and Floating Bridges, comprises a five-star hotel with 438 rooms, four residential towers comprising 756 serviced apartments, 20 restaurants, a man-made lake, a domestic beach and a 65-boat capacity marina.
It also includes a four-star hotel with 403 rooms, another tower for a three-star hotel with 405 rooms in addition to two connected residential towers comprising 389 serviced apartments, a mini mall and parking space for about 6,000 vehicles. The entire development covers an area of 125,675 sq m.
HE Mattar Al Tayer, director-general and chairman of the Board of Executive Directors of RTA, said: “The project, in which construction works have recently started, is primarily aimed to provide entry and exit points linking with the ground and basement access points of the Jewel of the Creek Project.”
Construction work on the project is set to be complete in the first half of 2019.
* Data provided by Timetric's Construction Intelligence Center.