Nakheel, member of Dubai Holding’s real estate arm, Dubai Holding Real Estate, has granted a contract worth AED1.8 billion ($490 million) to ALEC Engineering & Contracting LLC for the construction of the luxury residential tower, Como Residences, on Palm Jumeirah.
We’ve awarded a AED 1.8 billion contract to @ALECBuilding for the construction of Como Residences, a 75-storey tower on Palm Jumeirah. Scheduled for 2028, it features 2-7 bedroom units, including a penthouse with 360° views, redefining waterfront luxury in Dubai. pic.twitter.com/aXJWFH9Bwn
— Nakheel (@NakheelOfficial) September 23, 2024
Set to be completed by Q2 2028, the 75-storey tower will reach heights exceeding 300 metres and will feature only 81 exclusive residences, WAM reported.
Khalid Al Malik, chief executive officer of Dubai Holding Real Estate, noted that Nakheel has a distinguished history of delivering iconic projects, such as Palm Jumeirah, which have transformed Dubai’s skyline. He further mentioned that Como Residences continues this legacy and demonstrates their commitment to developing world-class destinations.
Read more: UAE’s developer Nakheel secures $4.62 billion in financing
Barry Lewis, chief executive officer of ALEC Engineering & Contracting, expressed his pleasure that Dubai Holding Real Estate has entrusted the iconic project to their company. He conveyed confidence in their ability to deliver a tower that would further enhance Dubai’s renowned skyline.
In August 2024, Nakheel granted a contract worth AED 810 million ($220.54 million) for marine works at Palm Jebel Ali to Jan De Nul Dredging. Additionally, as a member of the prominent Jan De Nul Group, the company will handle dredging, land reclamation, beach profiling, and sand placement, playing a vital role in the development of villas throughout all fronds.
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