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Dubai-based developer DAMAC Properties has awarded a contract worth 500 million dirhams ($136 million) for the main works at its new luxury residential development in Dubailand.
The contract, awarded to Shapoorji Pallonji Company, includes the construction of 847 villas at the Santorini cluster of DAMAC Lagoons, a Mediterranean-inspired community.
The project is envisioned to feature villas and townhouses built around lagoons with white sandy beaches.
The DAMAC Lagoons development will have multiple residential clusters, which also include Venice, Morocco, Costa Brava, Nice, Malta, Andalucia and Portofino.
It will be developed on a 45-million-square-foot area near DAMAC Hills. Construction work is expected to begin in April 2022.
(Writing by Cleofe Maceda; editing by Seban Scaria seban.scaria@lseg.com)
