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.”
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.
Bloom Holding is also tapping into the gated community model with its Dh9bn Bloom Living project, near Abu Dhabi International Airport.