Dubai, UAE – DAMAC Properties has awarded China State Construction Engineering Corporation (CSCEC) with an AED 72 million construction contract for major road and infrastructure work at AKOYA Oxygen. This latest contract brings total construction spend to over AED 5.6 billion since its inception, as DAMAC continues development at its 55 million square-foot community, and looks to start deliveries end of this year.

“This latest contract award to CSCEC will see major road and infrastructure work being carried out at three clusters within AKOYA Oxygen, providing access and services to support 1,623 villas,” said Ali Sajwani, General Manager of Operations at DAMAC Properties. “We are pleased to further strengthen our relationship with CSCEC, as we accelerate development in almost every part of our largest master community which will start to welcome its first residents at the end of 2018.”

CSCEC will carry out major work at Victoria, Avencia and Amargo clusters which consist of 1,623 villas, and was awarded the work based on a competitive bid, as one of the world’s largest multidisciplinary companies in the field of civil and industrial engineering, and the leading contractor in the Middle East.

DAMAC recently awarded a major contract to Arabtec to build 916 villas at AKOYA Oxygen in March 2018, and in August 2017, Arabtec was also chosen to build 1,296 villas.

Located off the Umm Suqeim Road extension and approximately 15 minutes from DAMAC Hills, AKOYA Oxygen will offer residents a serene, family-friendly community surrounded by beautiful landscaping and cascading water features. It features homes made up of energy efficient materials, controls and systems, amidst a green and secluded setting. With access to an 18-hole golf course, AKOYA Oxygen will also offer residents with state-of-the-art amenities such as luxury shopping arcades, five-star hotel and suites, an organic market, among others. The community will also include conveniences such as mosques, clinics, schools, nurseries, and restaurants.

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Get more information at www.damacproperties.com

About

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 utmost quality. The company’s footprint now extends across the Middle East with projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Oman and the United Kingdom.

As of 31st March 2018, DAMAC Properties has delivered over 20,884 homes. The company has a development portfolio of over 40,000 units at various stages of progress and planning, comprising more than 10,000 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. Visit us at www.damacproperties.com

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For more information, please contact: Sherif Elghamrawy, Assistant Vice President, Corporate Communications, DAMAC Properties. Tel: +971 4 3731000 │Email: sherif.elghamrawy@damacgroup.com

© Press Release 2018

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