Meraas awards over AED 590mln main construction contract for City Walk Crestlane

Meraas has awarded Parkway International Contracting (L.L.C.) a main construction contract in excess of AED 590 million to deliver 394 apartments across four residential buildings as part of Phase 3 at City Walk Crestlane. Construction has already commenced and completion is anticipated by Q3 2028. The project forms the next stage of Crestlane, an extension of City Walk’s walkable urban environment in central Dubai.

“Crestlane’s continued expansion reflects sustained demand for design-led urban living in central Dubai. This main construction award advances the next stage of delivery, building on City Walk’s distinctive combination of high-quality homes and an established walkable urban environment. Our focus remains on disciplined execution and enduring quality,” said Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate.

Contractor statement

Tarek Zoabi, Managing Partner at Parkway International Contracting, commented on the appointment: “We are proud to deepen our partnership with Meraas through the delivery of this latest phase of City Walk Crestlane. Our teams are focused on maintaining the highest standards of safety, quality and programme management throughout construction. We look forward to applying our technical expertise to support the development of Crestlane and contribute to the continued evolution of one of Dubai’s most recognised urban destinations.”

Project details and context

Phase 3 will introduce four residential buildings comprising 394 apartments. Crestlane is positioned as a contemporary residential precinct integrated into City Walk’s broader mixed-use fabric. The development emphasises landscaped open spaces and distinctive water features, and residents across the wider community will have access to a suite of amenities designed to reinforce the project’s lifestyle proposition.

• Planned residential units: 394 apartments
• Buildings: Four residential blocks within Phase 3
• Main contract value: More than AED 590 million
• Construction start: Already underway
• Expected completion: Q3 2028
• Location advantages: Central Dubai with links to Downtown Dubai, DIFC, Jumeirah Beach, Sheikh Zayed Road and Dubai International Airport

Within the Crestlane community and the wider City Walk precinct, amenities cited for residents include swimming pools, sports facilities, a fitness centre, a floating clubhouse and an outdoor cinema, alongside City Walk’s established retail, dining, leisure and public spaces. Crestlane is described as combining contemporary homes with landscape-led public realms intended to complement City Walk’s existing urban character.

Broader developer profile and outlook

Dubai Holding Real Estate — the integrated master developer that brings together Nakheel, Meraas and Dubai Properties — highlights more than 30 years of collective development experience and a portfolio that houses nearly 1.6 million residents across Dubai. The group says its assets exceed AED 500 billion and that its planning and delivery align with the Dubai 2040 Urban Master Plan to support long-term growth.

The appointment of Parkway International and the AED 590 million-plus contract signal continued momentum for central Dubai residential delivery focused on design-led, walkable neighbourhoods. With construction already under way and a mid-2028 horizon for completion, stakeholders will be watching early sales and leasing activity as units are finished and community amenities come online.