Dubai’s Nakheel is evaluating 11 proposals, with the lowest tender at just under AED650 million to build Dragon Towers

Developer Nakheel stated on Wednesday that it is evaluating 11 proposals, with the lowest tender at just under AED650 million, for the development of Dragon Towers, its twin-building residential complex at the Dragon City community in Dubai.

Dragon Towers, which will be delivered for sale in the fourth quarter of this year, constitutes 1,142 one and two bedroom apartments in two buildings and is directly connected to the Dragon Mart retail and trading hub.

The complex will also have a podium-level clubhouse with restaurant, a swimming pool and gym, also two floors of retail facilities and four parking floors, Nakheel mentioned in a statement.

Nakheel also said that it will award the contract in the third quarter of this year, with construction completion planned for the second quarter of 2021.

The news arrives one day after Nakheel reported that development of the third expansion at Dragon City – an AED169 million showroom and car park complex – has reached the 80 percent mark.

Dragon Towers is part of Nakheel’s ongoing hospitality, retail and residential expansion at Dragon City, which is already home to Dragon Mart 1, Dragon Mart 2 and an ibis Styles hotel. A second hotel is at present under development.

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