Property News · June 26, 2016

Dubai's Damac awards Dh3bn of contracts in first half of 2016


The Dubai developer Damac Properties said that it has awarded 25 construction and consultancy contracts worth Dh3 billion over the past six months.Damac said that contracts awarded during the first half of 2016 include construction contracts to build 2,678 villas within its Akoya Oxygen development and contracts to build three golf apartment buildings at Carson – The Drive at its Akoya project.”In Akoya Oxygen, the total number of villas now awarded exceeds 2,670,” said Ziad El Chaar, managing director of Damac Properties.”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,” he added.Damac said that it had a development portfolio of more than 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas.It said that at the end of March, it had completed more than 15,800 homes, including about 2,000 hotel rooms. lbarnard@thenational.aeFollow The National’s Business section on Twitter

Source : thenational.ae
Read more…Dubai’s Damac awards Dh3bn of contracts in first half of 2016

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