Damac set to award contracts worth Dh2bn

DAMAC PROPERTIES: CEO Peter Riddoch says to succeed in these tough economic times commitment to customers will need to be demonstrated. (Getty Images)

Damac Properties confirmed on Sunday it plans to award construction contracts worth 2 billion dirhams this year and aims to deliver an additional 7,100 units by the end of 2010.
 
The company also said it has completed almost 500 floors across all of its projects in Dubai.

''To succeed in these times of market uncertainty, it is important to demonstrate commitment to customers and maintain their confidence.

''Completion of projects and delivery is a key industry concern and our aim is to reassure our customers about their investments and deliver their purchases to them as planned,'' said Peter Riddoch, CEO, Damac Properties.

In a statement the company said it has delivered over 2,300 units during the last six months and is embarking on an aggressive plan during the next two years as it seeks to deliver 25 towers in total by the end of 2009.

With almost 500 floors completed across various projects and having already delivered 9 towers to date, the property developer said it ''is full steam ahead in construction''.

The company recently announced the completion of Lake View, Executive Heights and The Crescent.

Meanwhile, it is building a floor every 5.2 days at its Ocean Heights tower located at Dubai Marina. And the company’s twin tower development - Park Towers at DIFC - is rising by one floor each week.

Also, construction of the firm's XL Tower project, located at Business Bay, has reached the third floor while its Smart Heights development has reached the half way point of construction - 15 floors.

Elsewhere, external cladding and painting has started at Emirates Garden in Jumeirah Village.

The company has also completed the enabling works for its Executive Bay development at Business Bay.

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