01 July 2018

Damac Properties, a luxury real estate project developer in the UAE, has awarded a Dh72-million ($19.6 million) contract to China State Construction Engineering Corporation (CSCEC) for major road and infrastructure works at its Akoya Oxygen development in Dubai.

With this contract, the total construction spend by Damac has risen to over Dh5.6 billion ($1.52 billion) since its inception, as the Dubai developer continues work on the 55-million-sq-ft community and looks to start deliveries end of this year.

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 comprising 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 key amenities such as luxury shopping arcades, five-star hotel and suites and an organic market.

The community will also include conveniences such as mosques, clinics, schools, nurseries, and restaurants.

“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,” remarked Ali Sajwani, the 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,” noted Sajwani.

As per the deal, CSCEC will carry out major work at Victoria, Avencia and Amargo clusters which consist of 1,623 villas. Damac had awarded two major contracts to Arabtec to build villas at Akoya Oxygen, one in March to build 916 units and second in August last year for 1,296 villas.  

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