Damac awards Arabtec Akoya Oxygen contract
The Dubai-based developer Damac announced yesterday it has awarded a Dh628 million contract to build 1,296 villas and a 55 million square feet green development to Arabtec Construction.
Arabtec, one of the biggest listed construction companies in the UAE, will begin work on the project in the third quarter of this year with an expected completion period within 24 months.
Mohammed Tahaineh, senior vice president – commercial at Damac Properties, said the Abu Dhabi-based Arabtec was selected for its “proven track record for delivering quality and efficiency”.
Damac Properties said that deliveries on various clusters within Akoya Oxygen would start from the second half of 2018 through to 2022.
Located in Dubailand between Emirates Road and Al Qudra Road, Akoya Oxygen will feature energy-efficient residential properties of various sizes based around an 18-hole championship golf course.
Other highlights promised include an organic produce market, hydroponic cafe, wellness centre, outdoor yoga enclave and retail outlets.
The golf course at Akoya Oxygen is being operated by Donald Trump’s Trump Organisation and is being designed by Tiger Woods Design.
Earlier this year, China State Construction Engineering Corporation picked up a Dh117.5m contract for infrastructure works at Akoya Oxygen.
In March, Mr Tahaineh said Damac was pleased with the “level of progress at Akoya Oxygen” as well as its work on Aykon City, Avanti Tower and Merano Tower and with its “appointment of these reputable contractors, consultants and suppliers to get the work completed on projects at various stages of development”.