Nakheel Awards $708M Contract for Bay Villas on Dubai Islands

Dubai, UAE – August 18, 2025 - Dubai-based master developer Nakheel has awarded a contract worth USD 707.96 million (AED 2.6 billion) to Fibrex Contracting for the construction of its flagship Bay Villas project on the Dubai Islands.

According to Nakheel’s statement, the upscale waterfront community will feature 636 luxury residences spread across five distinct property types: townhouses, semi-detached villas, garden villas, waterfront villas, and beachfront villas.

A New Benchmark for Waterfront Living

The Bay Villas project is set to redefine luxury living on Dubai Islands, offering residents a unique blend of contemporary design, expansive layouts, and direct access to waterfront promenades. The development will be among the most sought-after villa communities in Dubai, catering to the growing demand for premium lifestyle destinations.

Dubai Islands: A Transformational Master Plan

Nakheel first unveiled the Dubai Islands master plan in August 2022, formerly known as Deira Islands. The visionary project spans five islands across 18.6 sq km, offering:

59 km of waterfront
20+ km of beaches
Expansive green parks and golf courses
Waterfront promenades and cycling tracks

The development forms a key part of the Dubai 2040 Urban Master Plan, designed to enhance the city’s position as a global hub for tourism, lifestyle, and investment.

Backed by Dubai Holding Real Estate

Nakheel operates under Dubai Holding’s real estate arm, Dubai Holding Real Estate, ensuring strong backing and alignment with Dubai’s broader urban development strategy.

The Bay Villas contract award underscores Nakheel’s commitment to delivering world-class residential communities that align with Dubai’s long-term vision for sustainable urban growth. With construction now moving forward, Bay Villas is set to become a flagship destination on the Dubai Islands, reinforcing the city’s position as a global leader in luxury real estate and waterfront living.