Jubail Island has announced the AED 327 million contract award to Construction General Contracting House Ltd (CGCH) for its new 242-unit Jubail Terraces community in Souk Al Jubail village, which was launched for sale in February 2023.
An official groundbreaking ceremony was held on the island to commence the project, with attendance from senior management including Mounir Haidar, Managing Partner of LEAD Development, Abdulla Al Shamsi, Corporate Director of Jubail Island Investment Company (JIIC) as well as Wahbi Mohamed El Wardani, CEO of CGCH and Mohammed Ahmad Dib, General Manager of CGCH.
Located amid some of the UAE’s most beautiful landscapes, surrounded by mangroves and wildlife, the contract award includes the development of 242 elegantly designed and spacious apartments in a series of low-rise, low-impact blocks, in addition to 23 retail units on the ground floor in each of the buildings.
The Jubail Terraces will be built with attractive neutral interiors and high-quality finishing. It was named for the expansive terraces that allow its occupants to enjoy the natural surroundings and vistas.
The new mixed-use destination will be ready for handover in March 2025, following the start of the handover of the land plots in March and the anticipated start of the handover of the villas and townhouses in December 2023. Together with the Marina district, The Jubail Club, landscaping, and other amenities, these features will create the heart of Jubail Island.
Mounir Haidar, said “We are delighted to have officially signed the contract with CGCH to create our newest and most accessible community to date – Jubail Terraces. Set to be completed in March 2025, the new low-rise and low-impact apartment blocks offer potential residents even more choice and flexibility in one of Jubail Island’s premium and desirable communities.
“With continued market demand for uniquely designed and high-quality housing, the contract signing further reinforces JIIC’s commitment to developing a world-class landmark destination that is synonymous with luxury living and created with sustainability in mind.”
The AED10 billion Jubail Island, a project owned by JIIC and developed and managed by LEAD, will be home to an idyllic collection of six residential village estates located between Yas Island and Saadiyat Island.
Nestled among the breath-taking natural beauty and rich biodiversity of the mangroves, the landmark community will offer residents every convenience and amenity, seamlessly blending sustainable living, luxury, and wellness in an iconic new addition to Abu Dhabi’s real estate landscape.
