Dubai, UAE - Nakheel has appointed Parkway International Contracting LLC to build Phases 2 and 4 of its Bay Grove Residences scheme on Dubai Islands as main contractor, under a contract worth more than $258.68 million (AED 950 million).
The award from Nakheel, part of Dubai Holding Real Estate, takes in 617 apartments of one to four bedrooms spread over eight residential buildings.
Parkway’s scope also runs to the basement, related infrastructure and resident facilities, among them fitness centres, sports courts and swimming pools.
Phase 2 accounts for 360 of the homes in four buildings, and its main construction works are due to finish by late 2028. The other 257 homes make up Phase 4, also split over four buildings, which is scheduled for completion in the second quarter of 2029.
Nakheel launched the final phase of Bay Grove Residences, 257 homes across four buildings on Island B, in July 2025.
The new deal follows an earlier contract worth more than $217.84 million (AED 800 million) that Nakheel gave Metac General Contracting Co for Phases 1 and 3, which hold 537 homes in seven buildings.
Between them, the two packages add up to more than $476.51 million (AED 1.75 billion) of main construction work and take in every one of the 1,154 homes planned across the development’s 15 buildings.
Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said: “This award marks another important step in the delivery of Bay Grove Residences, establishing a clear construction pathway for a further 617 homes. Together with the contract already awarded for Phases 1 and 3, it represents a substantial investment in the community and the long-term development of Dubai Islands. Our focus remains on delivering high-quality homes, amenities and public spaces that will create a distinctive waterfront community for residents.”
Tarek Zoabi, Managing Partner of Parkway International Contracting LLC, said: “We are pleased to partner with Nakheel on the next stages of Bay Grove Residences. Our team is focused on safe, disciplined delivery across both phases, with close attention to build quality, coordination and the agreed programme.”
According to Nakheel, the scheme is being planned as a community on the water, with landscaped shared areas, paths for walking and cycling, and a link to Crystal Beach.
Dubai Islands sits off the Deira coastline and is made up of five islands covering 18.6 square kilometres. The developer said the master plan brings together homes, hotels, parks, and leisure and cultural destinations, as part of the emirate’s longer-term urban growth.
