Real estate developer Select Group has awarded a construction contract worth $171m to China State Construction Engineering Corporation Middle East (CSCEC ME) for the first phase of its Peninsula development.
Located in the heart of Business Bay, Dubai, United Arab Emirates, the first phase of the Peninsula waterfront development will span more than 397,000ft2 and will offer unique residential options from studios to two-bedroom apartments.
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Peninsula development was launched in October last year and is being developed in two phases, Peninsula One and Peninsula Two.
Its first phase consists of three separate residential developments that include low-rise waterfront residences.
Peninsula One features 518 individual units and offers an array of amenities in a single community.
It comprises a 36-story tower featuring 433 units, which are mainly studios and also range from one to three-bedrooms.
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By GlobalDataPeninsula development’s first phase will also include 70 luxury waterfront simplexes spread over six floors.
The enabling works on this phase are underway and are expected to be completed by this month.
Main construction works on Peninsula One is scheduled to begin in the first quarter of this year, with completion of both developments anticipated by the fourth quarter of 2024.
Peninsula Two comprises a 36-storey residential tower with 439 units that include studio, one-bedroom, and two-bedroom apartments.
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Rendering of the Peninsula project in Business Bay. Credit: Select Group.
