Dubai – Mubasher: Nshama, a UAE-based developer, has unveiled plan to award an AED 3.6 billion ($980 million) contract for Town Square Development within the next three years.

Nshama has awarded AED 695 million of Town Square’s infrastructure works, which brought up the total value of awarded contracts in the project to AED 5.2 billion, the company’s CEO Fred Durie said, according to Construction Week.

The Emirati company plans to increase the value of the awarded contracts in the project to AED 9 billion, Durie added.

“This year, we would probably award two or three major contracts. We are just finalising design and tendering, and you can also expect a launch towards the end of the summer.”