Economy News Real Estate

Meydan awards $144m for lagoon-side development

Dubai Holding Real Estate’s Meydan has awarded a $144m contract to Bhatia General Contracting for the construction of Naya at District One. This resort-inspired residential development, located in the Mohammed Bin Rashid Al Maktoum City, offers lagoon-side living with three green-roof residential towers comprising 456 one to four-bedroom apartments and villas. Completion is expected by Q3 2027.

The development will feature a gym, sports courts, rooftop lounges, and access to the 35-hectare Crystal Lagoon. This lagoon provides opportunities for kayaking, paddle boarding, and other water activities, blending luxury with a connection to nature.

District One, known for its master-planned design, dedicates 60% of its space to greenery, featuring over 8km of cycling and running tracks and 14km of shoreline living.

Gulf Economist Staff Writer