(MENAFN) Dubai's Property developer Nakheel has awarded USD136 million contracts to Arabtec and SS Lootah Group to carry out the Jumeirah Park development, Reuters reported.
Arabtec will build 134 luxury villas in the development, while Lootah will build 247 villas at the same project.
Construction of the new villas will begin in February and the project is expected to be completed in the fourth quarter of 2014.
Nakheel said it had sold more than USD326.71 million worth of villas in the project so far.
Nakheel CEO Sanjay Manchanda said the company will finance the project from its own cash.
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