Damac Properties, a leading real estate developer in the UAE, has awarded two significant contracts for its flagship master development, Damac Hills.
The contracts, valued at a total of AED588 million ($160 million), were awarded to Engineering Construction and Reconstruction Company.
The first contract, valued at AED341 million, is for the main works of the Gems Estates cluster within Damac Hills. The second contract, worth AED247 million, is designated for the main works as part of Cavalli Estates, also located within the prestigious Damac Hills community.
Damac Properties has consistently demonstrated its dedication to creating world-class, sustainable communities that redefine modern living standards. The awarding of these contracts signifies another milestone in Damac’s mission to deliver luxurious and aspirational living experiences to its customers, it said.
Gems Estates is an ultra-luxurious collection of high-end mansions branded by Swiss jeweller de Grisogono, with home interiors branded by famed Italian fashion house Roberto Cavalli, making it the first co-branded real estate project in the world.
The contract includes the construction of a range of high-end villas and amenities that will elevate the lifestyle of residents to new heights. From lush green spaces to cutting-edge recreational facilities, Gems Estates cluster promises to be a haven for those seeking luxury, comfort, and convenience.
Cavalli Estates, a unique addition to Damac Hills, embodies the essence of sophistication and elegance. Damac is set to create a distinctive enclave of villas that blend modern aesthetics with timeless charm. Residents of Cavalli Estates will enjoy a harmonious blend of privacy, security, and community living, all set against the backdrop of Damac Hills' picturesque landscapes.
"We are delighted to announce the awarding of these two significant contracts for Damac Hills," said Mohammed Tahaineh, General Manager of Projects, Damac Properties. "These contracts underscore our unwavering commitment to delivering on our promises of excellence and luxury. We believe that Gems Estates and Cavalli Estates clusters will set new standards in upscale living, offering our customers unparalleled value and quality."
The commencement of construction on Gems Estates Cluster and Cavalli Estates marks the beginning of a new chapter in Damac Properties' legacy. The company is determined to continue its tradition of creating iconic developments that contribute to the growth and prosperity of the region.
Damac Properties is dedicated to the highest standards of quality, craftsmanship, and innovation, and these contracts reflect the company's ongoing efforts to push boundaries and redefine luxury living in the Middle East and beyond. – TradeArabia News Service