Interserve's part-owned civil engineer Khansaheb wins infrastructure contract for 2,000-home first phase of Nakheel's Al Furjan new town
Interserve's Dubai associate Khansaheb Civil Engineering has won a £140m infrastructure contract for the first phase of developer Nakheel's “family-oriented” new town scheme, Al Furjan, in Dubai.
Interserve's share of the revenue will be £65m, given its 45% ownership share of the civil engineer, whose revenue last year was around £150m. The remaining proportion is owned by Khansaheb Investments.
Al Furjan will eventually comprise more than 4,000 homes spread across four communities, each with its own neighbourhood centre including amenities such as schools within walking distance and open spaces for children to play.
The first phase features 2,000 villas and terraced homes, with some supporting commercial and retail space. Khansaheb will build the infrastructure for this phase, including roads, power, water, sewerage and lighting facilities.
Adrian Ringrose, chief executive of Interserve, said, “This is a significant contract for us and demonstrates the continued vibrancy of the construction market in the region. We are proud to be working with a developer of Nakheel's stature on such an exciting project.”