Arabtec Construction wins $171m contract to build 1,296 villas in UAE
August 04, 2017 – Arabtec Construction has been awarded a contract worth AED628m ($171m) by DAMAC Properties to build 1,296 villas at DAMAC’s Akoya Oxygen master development in Dubai, UAE.
Situated off the Umm Suqeim Road extension Akoya Oxygen provides a tranquil environment with green surroundings in a secluded, family-friendly community.
The site is located just 15 minutes from DAMAC Hills, Akoya Oxygen will include contemporary residential properties of various sizes surrounding an 18-hole championship golf course.
The residential property will also feature an organic produce market, hydroponic café, luxury wellness centre, outdoor yoga enclave and retail outlets featuring well-known brands.
Arabtec will start the construction work in the third quarter of 2017 at the 55m sq ft green development in Dubailand. Construction is likely to conclude within 24 months.
DAMAC Properties senior vice president of commercial Mohammed Tahaineh said: “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.”