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Damac awards $171m villas contract to Arabtec Construction

Damac Properties, a leading luxury real estate developer in the region, awarded Arabtec Construction LLC with a AED 628 million contract to develop 1,296 villas at Damac’s AKOYA Oxygen master development. Arabtec will begin construction in Q3 2017 at the 55-million-square-foot green development in Dubailand, and is expected to complete the project within 24 months.

“Damacalways chooses to partner with leading contractors and consultants who have a proven track record for delivering quality and efficiency. With Arabtec, we are confident that the momentum and steady progress at AKOYA Oxygen will remain on track right through to project completion,” said Mohammed Tahaineh, Senior Vice President – Commercial at Damac Properties.

AKOYA Oxygen offers a tranquil environment with lush, green surroundings in a secluded, family-friendly community. Energy-efficient homes are surrounded by beautiful landscaping and cascading water features.

Located off the Umm Suqeim Road extension and approximately 15 minutes from Damac Hills, AKOYA Oxygen will include contemporary residential properties of various sizes surrounding an 18-hole championship golf course, along with an organic produce market, hydroponic café, luxury wellness centre, outdoor yoga enclave and retail outlets featuring well-known brands.

About Damac Properties

Damac Properties was established in 2002 as a luxury real estate developer providing unrivalled living experiences in Dubai, UAE. The Company has grown to become one of the foremost luxury developers with projects spanning the GCC, the wider Middle East and the United Kingdom.

They now develops multi-million square-foot golf course communities, high-end and high-rise private apartment towers, ‘limited edition’ living experiences with global brands such as Versace, Fendi and Bugatti, as well as operating and managing serviced hotel apartments and fully-fledged five star hotels in collaboration with Paramount Hotels & Resorts.

Source: www.damacproperties.com