Damac awards $953m worth of contracts so far in 2017

Bulk of work awarded for golf community Akoya Oxygen
Damac awards $953m worth of contracts so far in 2017
By Lubna Hamdan
Thu 07 Sep 2017 11:29 AM

Luxury real estate developer Damac Properties has revealed it awarded over 370 contracts worth $953 million (AED3.5b) since January 2017 for construction, supplier and consultancy services across 20 of its projects.

More than 50 percent of contracts awarded, $490m, has gone towards the firm’s largest master golf community, Akoya Oxygen, with major construction ongoing across the 55-million square foot development.

Other projects include residential and hospitality towers in Dubai, Jeddah, Riyadh and London.

Furthermore, the developer’s flagship, 42 million square foot community, Damac Hills, is on schedule and set for completion, with a large number of units to be delivered soon, on top of over 3,100 villas and apartments already delivered.

The firm also continues to deliver golf facing apartments, hotel rooms and apartments in Trump International Golf Club Dubai, officially launched in February.

Some of its major partners include Arabtec Construction, China State Construction Engineering and Ghantoot Gulf Contracting among others.

In summer, Damac awarded $310m (AED1.1bn) in construction contracts for its premiere luxury residential project, Aykon London One, in the UK.

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