Nakheel, a member of Dubai’s real estate arm, has awarded Jan De Nul Dredging LTD. with a $221 million marine works contract for ultra-luxury development Palm Jebel Ali.
In the next two years, the group will be overseeing dredging, land reclamation, beach profiling, and sand placement, with the first of eight fonds expected to be completed in early 2025, followed by the commencement of villa infrastructure and civil works.
“”Partnering with Jan De Nul Dredging reflects our unwavering commitment to excellence and innovation. As Nakheel intensifies its development activity under Dubai Holding, the expertise of Jan De Nul Dredging in marine, civil construction and environmental projects is pivotal as we accelerate progress on this transformational development. Aligned with the Dubai 2040 Urban Master Plan vision, Palm Jebel Ali is set to become a global destination that will offer residents the opportunity to experience a luxurious waterfront lifestyle with access to sweeping beachfronts and pristine waters, while setting new standards in quality living and sustainability.” said Chief Executive Officer of Dubai Holding Real Estate Khalid Al Mali.
Powered by renewable energy, the development will be double the size of the Palm Jumeirah. Palm Jebel Ali is set to feature a large marina located on the island’s crescent, along with a group of luxury hotels, a golf course, and a shopping mall.
Recent data finds the demand for superyacht berthing accommodation has doubled in 2024, with the current capacity in the UAE standing at 3,600 within 15 marinas.