Monday, October 23, 2017 2:53 AM

Home / Arabtec Construction gets $171 million Damac contract to build 1,296 villas at Akoya Oxygen

Arabtec Construction gets $171 million Damac contract to build 1,296 villas at Akoya Oxygen


Dubai-based property developer Damac Properties said, it has awarded Arabtec Construction LLC with a US$171 million (Dh628 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.

“Damac always 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.

Damac Properties, established in 2002, has footprint across the Middle East with projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon and the United Kingdom.

As of 31st March 2017, Damac Properties has delivered approximately 18,500 homes. The company has a development portfolio of over 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, Damac Hotels and Resorts. With vision and momentum, Damac Properties is building the next generation of Middle East luxury living.

 

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