Abu Dhabi-based Jubail Island Investment Company (JIIC), the developer of Jubail Island, announced on the 327 million UAE dirhams ($89 million) contract award to Construction General Contracting House (CGCH) for its new 242-unit Jubail Terraces community in Souk Al Jubail village.

The project, part of the AED10 billion ($2.7 billion) Jubail Island master plan, was launched for sale in February 2023, JIIC said in a press statement.

Jubail Terraces will be ready for handover in March 2025, following the start of the handover of the land plots in March 2023 and the anticipated start of the handover of the villas and townhouses in December 2023, the statement said.

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.

Global consultancy practice Atkins will provide supervisory services for the project.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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