Meraas to Award Pearl Jumeirah Contracts by December

MeraasDevelopment is a member of Dubai government owned Meraas Holding is all set to award infrastructure contracts in the early December for the Pearl Jumeirah Island development. The value of the contract was still not disclosed. Sina Al Kazim, Meraas chief business evelopment officer told Gulf News: We've issued contracts for the reclamation work and the usual tivities associated with island development — like hydraulic studies, environmental studies and coastal protection. Future contracts include the building of roads and other infrastructure and the power sub-station.”

He further added “We prefer not to discuss financial terms.”Meraas unveiled this Pearl Jumeirah which was earlier labeled as the East Bay which is a component of the Jumeirah Gardens. It has been asked that whether this entire Jumeirah Gardens project had been scaled back from its original size. As Kazim said: “At this point in time, Meraas does have the land bank available but does not wish to proceed with the original plan as the market does not require it. As the market changes, Meraas will fit in to that requirement.”

He further added: “Meraas will always react to what the market requires. We will also always support the government in what it wants us to do.” The land handover on Pearl Jumeirah is on the fourth quarter of this year and further development of the island will depend upon on the investors those who have bought the land. Meraas exhibits a detailed model of the Pearl Jumeirah development at the Cityscape exhibition next month in Dubai.