DAMAC bags 25 contracts worth AED3 billion in first half of 2016

28/06/2016 01:53 AST

DAMAC Properties announced Sunday that it awarded 25 construction and consultancy contracts worth AED3 billion in the first half of 2016.

Contract awarded include the main packages for more than 2,678 villas within its luxury lifestyle community; AKOYA Oxygen, as well as the main package for Golf apartment buildings at Carson – The Drive at AKOYA by DAMAC.

Ziad El Chaar, Managing Director, DAMAC Properties, said: “In AKOYA Oxygen, the total number of villas now awarded exceeds 2,670. The Golf course design is completed and we are making progress in the selection of the Golf course main contractor. The designs of several clusters are completed, several main contractors were appointed and work started in many areas on site. In AKOYA by DAMAC, the Golf course is completed and the handover of approximately 766 villas is imminent.”

“The drive to deliver luxury living lies at the core of DAMAC Properties’ mission. This is a very exciting time to be part of the Dubai real estate market resurgence as we look forward to working with top-notch contractors and consultants to ensure the delivery of our projects,” El Chaar added.

As of March 31, 2016, DAMAC Properties has delivered over 15,800 homes, including approximately 2,000 hotel units. 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 & Resorts. With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.

Saudi Gazette