Jubail Island Investment Company (JIIC) has awarded a Dh40 million ($11m) contract to Al Dhafra Pipeline & Contracting Company (APCC) for the new 66-berth Marina in the Marfa Al Jubail community.
Handover of the luxury waterfront project with a marina, houses and yacht club is expected by mid-2024, while the district within Marfa Al Jubail is set to launch in October, JIIC said.
The district will consist of 41 townhouses and 18 apartments, surrounded by mangroves.
Marfa Al Jubail will be anchored by a luxury yacht club complex and boardwalk, with restaurants and alfresco cafes.
“Marfa Al Jubail will be part of the array of social attractions and amenities within the island, that is unlike anything else in the capital," said Abdulla Saeed Al Shamsi, operations corporate director at JIIC.
"The contract signing reinforces JIIC’s commitment to developing a landmark destination and a premier marine community that is synonymous with luxury living.”
Jubail Island, located between Saadiyat Island and Yas Island, will have six residential village estates covering more than 400 hectares and will be home to 10,000 residents within four years.
Building heights at Jubail Island will be strictly controlled, with no villa exceeding 15 metres.
The project received a boost in April when Abu Dhabi Islamic Bank provided a Dh500 million ($136m) Sharia-compliant financing facility for development and construction.
The funding covers the infrastructure works and building of up to 453 villas and 133 town houses as part of the first phase of development.
A contract to build the first 300 villas was awarded to Arabian Construction Company in April 2021. At the time, JIIC said 60 per cent of the site's infrastructure was complete.
A number of new large-scale housing projects have been announced in Abu Dhabi so far this year.
Close to Jubail Island will be Louvre Abu Dhabi Residences by Aldar, while Reem Hills will be a $2.1bn gated villa community with a man-made hill on Reem Island.
Bloom Holding is also tapping into the gated community model with its Dh9bn Bloom Living project, near Abu Dhabi International Airport.
T20 World Cup Qualifier
Final: Netherlands beat PNG by seven wickets
Qualified teams
1. Netherlands
2. PNG
3. Ireland
4. Namibia
5. Scotland
6. Oman
T20 World Cup 2020, Australia
Group A: Sri Lanka, PNG, Ireland, Oman
Group B: Bangladesh, Netherlands, Namibia, Scotland
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
MATCH INFO
Fixture: Thailand v UAE, Tuesday, 4pm (UAE)
TV: Abu Dhabi Sports
