Wasl, a local developer, has given the estimated AED4.4 billion ($1.2 billion) contract to China State Construction Engineering Corporation, based in Beijing, to build the Dubai project The Island.
The contract award is a significant event for Dubai. According to regional projects tracker MEED Projects, it is the largest construction contract to be signed in the emirate since local contractor Alec defeated local developer Ithra in 2017 for the $1.36 billion contract to build One Zabeel.
At the time of the award, the Dubai project market is feeling more upbeat. The emirate approved the $4.9 billion Blue Line expansion to the Dubai Metro system on November 24.
The Island project is located on a 10.5-hectare island. The project will incorporate property brands connected to the MGM, Bellagio, and Aria hotel brands. The market expects The Island to host casinos if gambling-related legislation is passed in the United Arab Emirates, as MGM operates casinos in other nations.
The project is located near Marsa al-Arab, the Jumeirah Beach Hotel, and the Jumeirah public beach, off the coast of Umm Suqeim. 1,400 hotel rooms, apartments, and areas for dining, shopping, and entertainment are planned.
The local APCC is the earthworks contractor. Buro Kling Architectural Engineering Consultants, with its headquarters in Germany, is the principal consultant and structural consultant. The project also involves HSS as a consultant.
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