UAE’s property developer, Select Group, announced in a statement that it has appointed China State Construction Engineering Corporation Middle East L.L.C. (CSCEC ME) as the contractor for the first phase of its latest waterfront project, Peninsula, strategically located in the heart of Business Bay.

The value of the contract is AED 6269 million (USD 171 million).

CSCEC ME’s outstanding project delivery experience in the U.A.E. complements a portfolio that boasts some of the region’s most iconic and urban constructions. The Project is to kick-off phase one works of the eagerly anticipated mega-waterfront project in January 2022.

The initial phase of the Peninsula waterfront development comprises of three separate residential developments, including high rise towers and low-rise waterfront residences, meticulously blending into the first community-focused residential master development in Business Bay.

The enabling works on Peninsula One are currently underway and anticipated to be completed by January 2022. The main construction works will commence in Q1 2022, while both developments are expected to complete by Q4 2024.