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Majid Al Futtaim awards AED 799m construction contracts to Shapoorji Pallonji

Majid Al Futtaim awards AED 799m construction contracts to Shapoorji Pallonji
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Abu Dhabi – Mubasher: Majid Al Futtaim – Communities announced the appointment of Shapoorji Pallonji International as the main contractor for the construction of Aura and Aura Gardens at Dubai’s Tilal Al Ghaf.

Working to an expected completion date of mid-2024, the total contract value amounts to AED 799 million, according to a recent press release.

The contract scope covers the construction of 808 villas set across two distinct neighbourhoods. Aura and Aura Gardens meet a gap in the Dubai residential market for customer-centric homes designed to deliver an elevated living experience.  

Majid Al Futtaim – Communities is part of Majid Al Futtaim Properties. 

During the first half (H1) of 2022, Majid Al Futtaim reported a revenue of AED 18 billion, a rise of 15% when compared to H1-21.

In the meantime, earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by 18% in H1-22 to AED 1.9 billion.