Dubai-based DAMAC Properties has awarded the main works construction contract for 120 villas at its Mandarin Oriental Bolidhuffaru Reef resort in the Maldives.

The contract, valued at nearly 544 million UAE dirhams ($148.11 million), was awarded to local company Aima Construction Company, the developer said in a statement.

Aima Construction will deliver 120 stand-alone villas, 64 of which are overwater and 56 are beachfront.   

The 34-hectare luxury resort in the Bolidhuffaru Reef in South Male Atoll is scheduled to open in 2025.

DAMAC recently awarded a contract worth over 137 million ($37.2 million) to Proscape for roads and infrastructure works at three clusters within the Damac Lagoons master community development in Dubailand.

(Writing by P Deol; Editing by Anoop Menon)