Leading UAE property developer Select Group has appointed China State Construction Engineering Corporation Middle East as the main contractor for Phase One of its waterfront project, Peninsula, strategically located in the heart of Business Bay.
The initial phase of the Peninsula waterfront development comprises three separate residential developments, including high-rise towers and low-rise waterfront homes, meticulously blending into the first community-focused residential master development in Business Bay, said the statement from Select Group.
With 518 individual units, Peninsula One caters to an array of preferences in a single community. It spans over 397,000 sq ft, offering distinctive residential options from studios to spacious two-bedroom apartments, it stated.
Additionally, Peninsula One will feature a selection of luxurious waterfront simplexes spread over six floors, situated directly on the Dubai Canal, said the UAE developer.
Anchored by a 36-storey residential tower, Peninsula Two comprises 439 units perfectly tailored to contemporary living, it stated.
The tower features thoughtfully designed studio, one-bedroom and two-bedroom apartments, all of which present stylish and efficient living spaces in a unique waterfront setting.
Announcing the contract, Founder and CEO Rahail Aslam said: "Our partnership with CSCEC ME demonstrates our commitment to excellence. The appointment of world-class contractors like them are a further testament to our focused strategy of working with only the best-in-class partners, seamlessly aligning with our core pillars of delivering market excellence."
The main construction works will begin in Q1 following the completion of the enabling works on Peninsula One which is currently underway, he stated.
This modern development is a perfect example of affordable luxury in Dubai, with an estimated built-up area of 5.5 million square feet designed to become an exclusive community in the Dubai Downtown area, within close proximity to some of the city’s key landmarks.
The UAE developer said CSCEC ME had been selected mainly due to its extensive and exceptional track record, as well as its firm commitment to its core values of quality, safety and reliability.
The company’s outstanding project delivery experience in the UAE complements a portfolio that boasts some of the region’s most iconic and urban constructions, said Aslam.
On the contract win, CSCEC Mideast President and CEO Yu Tao said: "We are delighted to be leading the first phase of construction of the Peninsula development. We look forward to working with Select Group to bring this exceptional project to fruition."
"We are confident that we will contribute to the excellence of Peninsula, further strengthening Select Group’s position as a leading real estate and property developer in the region," he added
Following the successful launch of Peninsula in October 2021, Peninsula One and Peninsula Two have almost sold out within just a few weeks, reaffirming the development’s desirable status as the first suburban-style ecosystem in the heart of Dubai’s bustling Business Bay, said the Dubai developer.
Both developments are expected to complete by Q4 2024, it added.-TradeArabia News Service