Majid Al Futtaim has awarded construction contracts worth AED 3 bn for its flagship destination Tilal Al Ghaf in Dubai, according to a news release. The contracts were awarded to construction companies Innovo Build and Unec on Monday, to develop two neighborhoods — Alaya and Elysian Mansions.

The details: UAE construction conglomerate ASGC subsidiary Innovo Build will be the primary contractor for the 94-unit Elysian Mansions, while UAE-based construction firm Unec is the main contractor for the 130-unit Alaya villa development.

The timeline: The developers have broken ground on the two neighborhoods, with both projects expected to take 26 months to complete, the statement said. Handover of the units at Elysian Mansions is expected to take place in mid-2026, while Alaya’s units will see handovers in early 2026, it added.

OTHER REAL ESTATE NEWS-

Anax Developments is building a AED 470 mn Vento Towerin Dubai’s Business Bay area, which it expects to complete by 4Q 2025, according to a press release. The tower will comprise 225 fully furnished residences, spanning 19 residential floors, with the starting price for a studio set at AED 1.2 mn.

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