Arabtec secures contract for luxury homes in DAMAC’s Akoya community
January 04, 2019 – Arabtec Construction, a wholly-owned subsidiary of Arabtec Holding, has won an AED269m ($73m) contract from DAMAC Properties for luxury villas in Dubai’s Akoya community.
Under the contract, Arabtec Construction will build the villas in the Aquilegia cluster, consisting of a built-up area of more than 86,000m². Work will commence immediately with a construction period of 22 months.
Akoya community is a 55 million ft² master development that will include an 18-hole championship-style golf course and landscaping.
The community will also include shopping, retail, entertainment and hospitality outlets, spread across its residential offering of villas, apartments and serviced units.
Group CEO Hamish Tyrwhitt said: “We are delighted that DAMAC has again selected Arabtec Construction to deliver the most important element within the AKOYA community.
“This marks another residential villas project, demonstrating Arabtec Construction’s strength and core competency in the building sector.”
Arabtec Construction has also secured contracts worth AED353m ($96m) from DAMAC Properties for two luxury residential towers, Rěva Residences and Věra Residences.
Both towers are located adjacent to each other in Business Bay and overlook the Dubai Water Canal, Dubai’s newest waterfront district.
They are located near popular neighbourhoods and tourist attractions, including the Downtown Dubai district and up-scale communities along the Sheikh Zayed Road.
The projects involve the construction of 125,178m² of luxury apartments across the two residential towers of 30 storeys each.
Work will commence immediately with a construction period of 25 months.
Tyrwhitt said: “We are delighted to have been awarded another project by DAMAC Properties. The onboarding of repeat business from our clients is testament to the strength of our relationships and our commitment to delivering projects in our core competencies and core markets.”
In December 2018, Arabtec Construction also won an AED222m ($60m) contract from UAE developer Dubai Properties for 352 villas in its Amaranta project in Villanova, Dubai.
Work will be completed in 20 months.
Located at the intersection of the Dubai-Al Ain Road with Emirates Road in Dubailand, Villanova is only five minutes away from Sheikh Mohammed Bin Zayed Road and close to Dubai’s major business and retail hubs.
Façade design of each townhouse has been inspired by contemporary Mediterranean architecture, with spacious units featuring elegantly finished interiors and bright natural colours.