Belgian dredging group, Jan De Nul, has secured a $200 million contract to develop a prestigious artificial island in Dubai, a project that had been idle for about 15 years.
Nakheel, the real estate giant known for its palm-shaped islands off the coast of Dubai, has already developed one such island, Palm Jumeirah. However, its second and larger island has remained unfinished. The initiative was put on hold due to the global financial crisis in 2008.
On Monday, Nakheel confirmed that works are set to resume with Jan De Nul participating in the project. Over the next two years, the Belgian company will undertake dredging operations and create beaches to draft the first outline of the artificial island. The first eight fronds of a sixteen-frond palm tree should be ready to accommodate propositions for construction in the first quarter of 2025.
The island will span 13.4 square kilometres, featuring 91 kilometres of beaches. Around 80 hotel and recreational complexes have been planned.
According to De Tijd newspaper, Jan De Nul declined to elaborate further on the contract. “It’s signed, but we need to discuss a bit more with the client,” the company explained.
