Daily Newsletter

09 October 2023

Daily Newsletter

09 October 2023

Arada grants two contracts for Jouri Hills development in UAE

The total value of these contracts amount to around Dh700m ($190.58m).

October 06 2023

UAE-based property development company Arada has granted two contracts to build a residential development in Jouri Hills at Jumeirah Golf Estates, Dubai.

Construction company Intermass secured the major contract to construct all Jouri Hills units and UAE-based landscaping specialist Proscape obtained the landscape and infrastructure contract for this project.

This 294-unit luxury housing development is Arada’s debut project in Dubai.

Jouri Hills, which is already sold out, is the recent phase of the 40 millionft² Jumeirah Golf Estates master plan.

The estimated value of the major construction contract is approximately Dh645m ($174m).

Previously, Intermass has worked with Arada at its two Sharjah megaprojects, Aljada and Masaar.

Construction work is set to commence soon and anticipated to finish in 21 months.

In addition, the landscape and infrastructure contract secured by Proscape is worth Dh54m, and works are estimated to be completed in 18 months.

Proscape has already worked with Arada on delivering the Madar family entertainment district at the Aljada megaproject.

The housing units at Jouri Hills will range from three-bedroom townhouses to six-bedroom mansions.

This property will also feature a community centre and park comprising retail and food and beverage options.

Other amenities include several sports facilities with cycling and running tracks, a fitness centre, and swimming pools.

Arada Group CEO Ahmed Alkhoshaibi said: “The demand we have seen for this community sets a strong foundation for the launch in the last quarter of our second Dubai project, Armani Beach Residences at Palm Jumeirah, with a third project scheduled for the beginning of 2024.”

North America Construction market dynamics

Per GlobalData estimates, the North America construction market size is expected to reach $1,772.5 billion in 2023. The increased spending from the public and private sectors in the regional energy and infrastructure domain is projected to aid the market growth. The energy and utilities construction sector is expected to depict a AAGR of 8.7% in real terms from 2024 to 2027, supported by investments in regional renewable energy and oil and gas projects.

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