Nakheel, part of Dubai Holding Real Estate, has awarded Parkway International Contracting a construction contract worth more than Dh950m ($258m) to develop Bay Grove Residences on Dubai Islands.
The new contract covers the construction of 617 homes, ranging from one to four-bedroom homes, across eight residential buildings.
It also includes basement works, infrastructure and amenities such as swimming pools, sports courts and fitness centres.
According to Nakheel, Phase 2 involves 360 homes within four buildings, with main works scheduled for completion by late 2028.
Phase 4 will add 257 homes across four buildings, with completion expected in the second quarter of 2029.
This latest contract follows Nakheel’s earlier construction agreement, worth more than Dh800m, for 537 homes in Phases 1 and 3 of Bay Grove Residences.
Together, the two contracts total over Dh1.75bn and cover all 1,154 homes planned in the 15-building project.
Parkway International Contracting managing partner Tarek Zoabi said: “We are pleased to partner with Nakheel on the next stages of Bay Grove Residences.
“Our team is focused on safe, disciplined delivery across both phases, with close attention to build quality, coordination and the agreed programme.”
Dubai Holding Real Estate CEO Khalid Al Malik said: “This award marks another important step in the delivery of Bay Grove Residences, establishing a clear construction pathway for a further 617 homes.
“Together with the contract already awarded for Phases 1 and 3, it represents a substantial investment in the community and the long-term development of Dubai Islands.
“Our focus remains on delivering high-quality homes, amenities and public spaces that will create a distinctive waterfront community for residents.”
Bay Grove Residences is designed as a waterfront community offering landscaped communal spaces, walking and cycling routes and direct access to Crystal Beach.
The site is located on Dubai Islands, a five-island waterfront development off the coast of Deira.
Spanning 18.6km², Dubai Islands features residential areas, hospitality venues, leisure facilities, parks and cultural attractions as part of Dubai’s wider urban expansion plans.
Earlier this month, Nakheel appointed Mar Marine & Building Contracting to carry out marine and beach works on Island B at Dubai Islands, an offshore development near Dubai’s Deira coast.
