Saturday 20 October 2018

Hamish Tyrwhitt, group CEO, Arabtec, and Tahaineh
at the signing ceremony.

Damac awards $171m villas contract to Arabtec

DUBAI, August 1, 2017

Damac Properties, a leading luxury real estate developer in the region, has awarded Arabtec Construction a Dh628-million ($171 million) contract to develop 1,296 villas at its Akoya Oxygen master development in Dubai, UAE.

Arabtec will begin construction in the third quarter of this year at the 55-million-sq-ft 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. - TradeArabia News Service

Tags: Damac | Arabtec | Akoya |

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