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Mon 12 Sep 2016 04:11 PM

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Dubai's Damac awards $1.43bn in contracts so far in 2016

Developer also announced five new project launches including new phase of Akoya Imagine

Dubai's Damac awards $1.43bn in contracts so far in 2016

Damac Properties on Tuesday announced that it has awarded 285 construction and consultancy contracts worth AED5.25 billion ($1.43 billion) across the GCC and the UK between January and August.

The awarded contracts cover the public realm landscaping in Akoya by Damac, villas at both Akoya by Damac and Akoya Oxygen as well as infrastructure and the Golf course construction at Akoya Oxygen.

To deliver these works, Damac Properties said it has appointed some of the industry’s major names such as China State Construction Engineering, Al Arif Contracting, Ghantoot Gulf Contracting, KEO International Consultants and LACASA Architects & Engineering Consultants.

During Cityscape Global 2016, Damac Properties also announced five new project launches including the new phase of Akoya Imagine 3-bedroom villas targeting millennials, the new 4-bedroom Akoya Cuatro Villas, The Residences at Aykon City, AykonHotel & Hotel Apartments at Aykon City as well as the XV Villas at Akoya by Damac. 

Ziad El Chaar, managing director, Damac Propertie, said: “Akoya by Damac continues to make great progress with the Golf course completed and the handover of 1,350 villas and apartments this year.

"In Akoya Oxygen, seven main contractors have been appointed so far and the construction of 6,380 villas is in various stages of development, with many reaching level one. The golf course works are under progress while the backbone infrastructure contract is awarded and works commenced.”

Commenting on the new launches, he added: “We are pleased to bring to market a further range of projects for discerning customers and investors looking for a choice of attractive and lucrative investment opportunities."

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