Meed | Ellington awards $163m villas construction deal

Ellington awards $163m villas construction deal

18 December 2024

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Dubai-based real estate developer Ellington Properties has awarded a AED600m ($163m) construction contract to build The Sanctuary villa community in Dubai.

The contract was awarded to the local firm Aroma International Building Contracting.

The development will be located within District 11 of Dubai’s Mohammed Bin Rashid City area.

The project comprises four-, five- and six-bedroom villas.

The overall project is slated for completion in the second quarter of 2026.

According to data from regional projects tracker MEED Projects, Ellington has a portfolio of about 38 active projects valued at over $6bn.

Dubai’s heightened real estate activity is in line with GlobalData’s forecast, which expects the construction industry’s output to expand by 4.6% in real terms in 2024, supported by improved investments in transport, industrial and residential construction projects. Private sector investments in the real estate sector will also support the industry’s growth in 2024.

The residential sector is expected to expand by 4.5% in real terms in 2024, before recording an annual average growth of 2.6% in 2025-28, supported by private investments in the residential housing sector, along with government initiatives to meet rising housing demand.

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Yasir Iqbal