Includes more than 1,500 villas at AKOYA Oxygen and Construction of Three Hotel Apartments Towers

Dubai, United Arab Emirates: For Immediate Release, 9 June 2015: Leading luxury real estate developer DAMAC Properties has already awarded more than AED 2.8 billion in construction contracts in the first five months of 2015. 

Awards include the main works packages on more than 1,500 villas within its luxury lifestyle community, AKOYA Oxygen, three new apartment blocks at AKOYA by DAMAC and the main contracts for three of its hotel apartment's projects, DAMAC Maison Privé, NAIA Vantage and NAIA Celestia. 

Ghantoot Gulf Contracting has been awarded the package to build 981 villas at AKOYA Oxygen, while Lootah Building & Co. will start work on building the 547 villas. Seidco General Contracting LLC has been awarded the contract to build three G+7 complexes at AKOYA by DAMAC, with Pivot Engineering receiving a main works package for the 239 villas in AKOYA Park. 

"Ghantoot Group would like to express its thanks to the close relationship with DAMAC Properties, and this project is a quantum leap in the size of the special relationship between the two companies. This is the second project that we are cooperating with DAMAC Properties and there are future projects which will be posted. This demonstrates the size of the partnership between the two companies," Mr. Ali Mohamed Sadek Al Baloshi, Chairman, Ghantoot Group.

Civilco Civil Engineering & Contracting Co. LLC has been awarded the main package to build NAIA Celestia in the Dubai World Central District, DAMAC Maison Privé will be built by Seidco General Contracting LLC and NAIA Vantage has been awarded to Reem Capital Contracting LLC. 

"As a leading developer across the region, DAMAC Properties only works with the best-in-class companies to deliver the highest standards of luxury to our customers," said Mohammed Tahaineh, Senior Vice President - Commercial, DAMAC Properties. "These awards go a long way to showing our confidence in the Dubai real estate market and they will ensure a strong pipeline of deliveries." 

In addition to the main work packages awarded, DAMAC Properties has also awarded contracts for construction of the clubhouse at the Trump International Golf Club, Dubai, in the AKOYA by DAMAC master development in Dubailand.  

Seidco General Contracting LLC is already on-site and work is well underway. Jazeera Emirates Power has also started work on a second sub-station at the 42 million sq ft lifestyle community. 

"These awards are the start of a major building programme we have coming up across the course of the year and there will be many opportunities for high quality contractors in the coming months as we release more tenders on our luxury living portfolio," added Tahaineh. 

As of March 31st 2015, DAMAC Properties has delivered almost 14,000 homes and has a development portfolio of over 37,000 units at various stages of progress and planning. Included are more than 10,000 hotel rooms and serviced hotel apartments under development, which will be managed by its hospitality arm, DAMAC Hotels & Resorts.

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, Qatar, Saudi Arabia, Jordan and Lebanon.

As of March 31st 2015, DAMAC Properties has delivered almost 14,000 homes and has a development portfolio of over 37,000 units at various stages of progress and planning. Included are more than 10,000 hotel rooms and serviced hotel apartments under development, which will be managed by its hospitality arm, DAMAC Hotels & Resorts.

The company is listed on the Dubai Financial Market (DFM). The company also issued a US$650 million five year Sukuk on NASDAQ Dubai in April of 2014, which was more than four times oversubscribed and was placed with institutional investors across Europe, the Middle East and Asia.

As a leading player in the market, DAMAC Properties has joined forces with some of the most recognisable fashion and lifestyle brands in the world to bring new and exciting living concepts to the market. Projects include a Tigers Woods designed golf course which will be managed by The Trump Organisation, luxury apartments with interiors by Italian fashion-house Versace, luxury apartments and villas with interiors by FENDI and uniquely conceptualised Paramount Hotels and Resorts to bring serviced living at it most opulent.

The company is also developing two of the most anticipated luxury master communities in Dubai - AKOYA by DAMAC and AKOYA Oxygen. With a combined square footage of almost 100 million sq ft, the two distinct projects bring luxury villas within lush green surrounds to the doorstep of those looking to escape the city lights in a private, serene environment.

Running through the heart of each project will be an 18-hole Championship Golf Course - The Trump International Golf Club, Dubai designed by Gil Hanse at AKOYA by DAMAC and The Trump World Golf Club, Dubai, designed by Tiger Woods. Both courses will be managed by the Trump Organisation, offering the highest levels of white glove service.

Each project will house the highest luxury villas and apartments currently available on the market, with branded living concepts available within AKOYA by DAMAC from Paramount Hotels & Resorts and FENDI. The Trump Estates mansions also offer a truly indulgent lifestyle, with panoramic views across the course.

As a global leader in branded real estate, the company is also developing a US$1.25 billion hotel and luxury serviced residences in the Burj area of Dubai, called DAMAC Towers by Paramount, which will comprise the first Paramount hotel and serviced residences in the region.

DAMAC Properties' hospitality portfolio will extend within the coming three years to reach around 10,000 units of hotel rooms, serviced hotel apartments and serviced villas. The company's pipeline of hospitality projects to be opened in the coming few months extends in different locations of the Burj Area and other key areas of Dubai with its DAMAC Maison and NAIA products.  

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 - Corporate Communications, DAMAC. Tel: +971 4 3731000 │ Fax: 00 9714 3732335 │Email: niall.mcloughlin@damacgroup.com

© Press Release 2015