Dubai, United Arab Emirates – 01 March 2017

DAMAC Properties, a leading luxury real estate developer in the region, has recently awarded a contract worth approximately AED 200 million for Merano Tower located in Business Bay, Dubai. The main works contract has been awarded to Commodore Contracting Co. LLC.

Following the completion of the substructure works at Merano Tower, the awarded contract covers the project’s main works package. Excavation works are in progress up to raft level and the de-watering system is connected.

Mohammed Tahaineh, Senior Vice President - Commercial, DAMAC Properties, said: “We are pleased with the contractors we have appointed and which represent a significant portion of the construction of Merano Tower, where we continue to make steady progress. We strive to appoint leading contractors and consultants in the industry with a proven track record in terms of quality of work and efficiency on delivery times.”

Merano Tower is a 29-storey residential tower that, once completed in 2019, will provide spectacular views of the prestigious platinum square kilometre of the Burj area in Downtown Dubai. A paradigm of urban architecture and design, the striking residential tower features a swimming pool, a state-of-the-art gymnasium and ample parking space. It also provides direct access to Dubai’s business district, where residents can easily stay connected to the city and its attractions with two metro stations and two major highways right at its doorstep.

Merano Tower includes a basement level, ground floor and three podiums with 26 floors of residential apartments varying from studios, to one, two, and three-bedrooms, with units starting at AED 575,000.

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Further information is available at www.damacproperties.com

DAMAC Properties has been at the forefront of the Middle East’s luxury real estate market since 2002 – bringing luxury living experiences to residents from all over the world. Making its mark at the highest end of stylish living, DAMAC Properties has cemented its place as the leading luxury developer in the region, offering iconic design and the upmost quality. The company’s footprint now extends across the Middle East with projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon and the United Kingdom.

As of 31st December 2016, DAMAC Properties has delivered approximately 17,900 homes. 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.

Further information is available at www.damacproperties.com  or join DAMAC Properties on Facebook, Twitter (@DAMACofficial) and YouTube.

For more information, please contact: Niall McLoughlin, Senior Vice President, DAMAC Properties
Tel: +971 4 3731000 
Fax: 00 9714 3732335 
Email: niall.mcloughlin@damacgroup.com

© Press Release 2017