Dubai-based real estate and investment firm Shaikh Holdings has awarded Arabtec Construction a Dh412 million ($112.18 million) contract to commence construction on Sanctuary Falls villa development, a landmark boutique community in Jumeirah Golf Estates.

The award-winning Dh850 million Sanctuary Falls project, aims to create a new benchmark in community living by being the first resort-style residential golf community in the UAE, says a spokesman for the firm.
Launched last year, the development has already received keen interest from both local and international home buyers and was awarded ‘Best Golf Development’ in the CNBC Arabian Property Awards 2007.
Arabtec will commence construction of the 96 distinctly-styled resort villas of Sanctuary Falls shortly, and expects completion by first quarter 2010.
“We have taken our time to research and appoint the best quality contractors and subcontractors as our partners for the Sanctuary Falls development,” said Imran Shaikh, CEO, Shaikh Holdings.
“The Sanctuary Falls villas will be built to the highest construction standards, offering the latest building materials and efficiency systems. This project further underlines the increasing demand for signature lifestyle developments in the booming GCC real estate market and we look forward to working closely with Shaikh Holdings in creating one of the most vibrant and dynamic communities in the UAE,” Shaikh concludes.