Bay Grove Handover 2028: Nakheel Signs AED 800M Contract

The contract covers 7 residential buildings across 2 phases, along with the basements, site infrastructure and shared facilities that serve them.

Owners in Phases 2 and 4 do not yet have a named contractor or a completion target. Nakheel says plans for these phases are progressing and that further construction appointments will be announced.

Nakheel's target is for completing the main construction works. It is not a handover date. Handover in Phases 1 and 3 depends on those works being finished first.

The handover date that binds Nakheel is the one written in your Sale and Purchase Agreement. The contractor's timeline does not amend it. If your agreement shows an earlier date than the contractor's target, ask Nakheel in writing how it plans to meet it, and keep the reply on file.

Buying into Bay Grove Residences now means buying from an existing owner in a Dubai market where average prices have started to slip.

The data shows the citywide average falling, which gives resale buyers grounds to question any premium. Sellers should set prices from recent DLD transfers on Dubai Islands rather than from asking prices on listing portals. For wider context, see our Dubai property price trends.

The contract is between Nakheel and Metac. It does not change the price, payment schedule, unit specification or handover date in any buyer's Sale and Purchase Agreement.

Buyer protection also stays the same. Under Dubai Law No. 8 of 2007, payments made by off-plan purchasers are deposited in an escrow account opened in the name of the project with an approved escrow agent. Instalments should go only to the escrow account named in your agreement, never to a personal account.

Both companies say the project is moving from sales into construction.

Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said the award moves the community into its next stage of delivery, adding that Nakheel's focus remains on "disciplined execution and enduring quality" (Nakheel, September 2026).

Muhammad Sadiq Abdullah, Managing Director of Metac General Contracting, said his teams are mobilised and focused on safety, quality and programme management (Nakheel, September 2026).

Every next step starts with documents, not headlines.

If You Already Own a Unit

• Compare the handover date in your Sale and Purchase Agreement with Nakheel's completion target, and note any gap.
• Keep every instalment receipt and escrow statement in one file for handover or resale.
• Check the project's official completion percentage every quarter. The FAQ below explains how.

If You Plan to Buy a Resale Unit

• Ask the seller for their Oqood registration and a current Nakheel statement of account showing what has been paid and what is outstanding. This is non-negotiable due diligence.
• Get Nakheel's transfer conditions and fees in writing. Do not accept verbal confirmation.
• Budget for transfer costs using our guide to the hidden costs of buying a home in Dubai.
• Complete the transfer at a DLD Registration Trustee office.

Buy, Hold Off or Walk Away

• Buy if the premium is backed by recent DLD transactions on Dubai Islands and you can fund the remaining instalments.
• Hold off if you need rental income before the building is complete.
• Walk away if the seller cannot produce an Oqood registration and a Nakheel statement of account, or asks for money outside the DLD trustee process. Read this before you sign.

This article uses Nakheel announcements from October 2024, July 2025 and September 2026, Cavendish Maxwell data for August 2026, the Moody's Ratings UAE residential outlook published in February 2026, Dubai Law No. 8 of 2007 and Dubai Land Department service information.

Before any financial commitment, verify your handover date in your Sale and Purchase Agreement, your payment status with Nakheel, construction progress through DLD project status, and resale prices against DLD transaction records.

Estimates are labelled where direct verification was not possible at time of publication. This article contains no estimated figures; the one calculated figure, the Phases 2 and 4 building count, is derived from Nakheel's published totals.