Abu Dhabi
Damac Properties, a Dubai based real estate developer, awarded Arabtec Construction with a Dh628 million contract to develop 1,296 villas at Damac’s Akoya Oxygen master development.
Arabtec will begin construction in the third quarter of this year at the 55 million-square-foot green development in Dubailand, and is expected to complete the project within 24 months, according to a statement from Damac on the Dubai bourse.
“Damac always chooses to partner with leading contractors and consultants who have a proven track record for delivering quality and efficiency. With Arabtec, we are confident that the momentum and steady progress at Akoya Oxygen will remain on track right through to project completion,” said Mohammad Tahaineh, Senior Vice President, Commercial at Damac Properties.
Located off the Umm Suqeim Road extension and approximately 15 minutes from Damac Hills, Akoya Oxygen will include contemporary residential properties of various sizes surrounding an 18-hole championship golf course, along with an organic produce market, hydroponic cafe, luxury wellness centre, outdoor yoga enclave and retail outlets featuring well-known brands.