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Damac awards $817m contracts in H1

DUBAI, June 26, 2016

Damac Properties, a leading luxury real estate developer in the UAE, said it had awarded 25 construction and consultancy contracts worth Dh3 billion ($817 million) in the first half of 2016.

The contract awarded include the main packages for more than 2,678 villas within its luxury lifestyle community Akoya Oxygen, as well as the main package for Golf apartment buildings at Carson – The Drive at Akoya by Damac.

Ziad El Chaar, the managing director at Damac Properties, said: "In Akoya Oxygen, the total number of villas now awarded exceeds 2,670. The golf course design is completed and we are making progress in the selection of the golf course main contractor."

"The designs of several clusters are completed, a number of main contractors were appointed and work started in many areas on site. In Akoya by Damac, the golf course is completed and the handover of approximately 766 villas is imminent," he stated.

"The drive to deliver luxury living lies at the core of Damac’s mission. This is a very exciting time to be part of the Dubai real estate market resurgence as we look forward to working with top-notch contractors and consultants to ensure the delivery of our projects," remarked El Chaar.

As of March 31, 2016, Damac said it has delivered over 15,800 homes, including 2,000 hotel units.-TradeArabia News Service




Tags: Dubai | Damac Properties | contracts |

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