£380m Meraas contracts advance Dubai property projects

Two major property schemes in Dubai have moved a step closer after the master developer Meraas awarded £380 million (Dh2.16 billion) of contracts to Al Futtaim Carillion to build its ambitious Le Mer and Dubai Creek Waterfront schemes.

The UK contractor Carillion reported on Wednesday that its joint venture business Al Futtaim Carillion had been selected by Sheikh Mohammed’s private property company as the preferred bidder on a £225m contract to build a tourism project stretching across 1.8 kilometres of the Dubai Creek area from Al Fahidi.

The project, which is based around traditional Emirati design, will include shops, cafes and restaurants, three hotels, a mosque, museums, traditional workshops and a market as well as underground and multi-storey car parks. It is scheduled for completion by the end of 2016.

Meraas has also selected Al Futtaim Carillion as the preferred bidder for a £155m contract to build its 9.5 million square feet La Mer waterside scheme in Jumeirah.

The project, which was showcased at Cityscape last year, will include a water park with its own pirate ship and a roller coaster, two marinas, a total of 688 apartments and luxury villas, and a 160-room hotel.


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Lucy Barnard

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