Dubai’s Damac awards 25 contracts worth Dh3bn

Dubai developer Damac Properties has awarded 25 construction and consultancy contracts worth Dh3 billion in the first half of 2016, it announced on Sunday.

Contracts awarded include the main packages for more than 2,670 villas within its Akoya Oxygen project and the main package for Golf apartment buildings at Carson – The Drive at its Akoya by Damac project.

Damac Managing Director Ziad El Chaar said: "In Akoya Oxygen, the total number of villas now awarded exceeds 2,670. The designs of several clusters are complete, several main contractors were appointed and work has already started on many sites."

As of March 31 this year, the company had delivered over 15,800 homes, including approximately 2,000 hotel units.

The company has a development portfolio of over 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, Damac Hotels & Resorts.

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