Arabtec Wins $115 Million Damac Contract for 916 Villas

Press release
Published March 8th, 2018 - 12:25 GMT
During the event
During the event

Arabtec Holding, a leading contractor for social and economic infrastructure, said that its wholly owned subsidiary Arabtec Construction has been awarded a Dh424 -million ($115.4 million) contract from Damac Properties for the construction of 916 villas in the Akoya Oxygen master development.

Efeco (Emirates Falcon Electromechanical Company), another wholly owned subsidiary of Arabtec Holdings, will be carrying out the mechanical, electrical and plumbing (MEP) works for the project.

The project entails 329 units in Mimosa, 419 units in Basswood and 168 units in Amazonia extension located in Phase Six of the Akoya Oxygen master development. The three phases comprise a built-up area of approximately 148,000 sq m and will take 22 months to complete, commencing in March 2018.

Group chief executive officer Hamish Tyrwhitt said: “We are delighted to have been awarded another project from Damac Properties. The onboarding of repeat business from our clients is testament to our strengthened relationships across our core geographies and in our core competencies.”

Akoya Oxygen is a 55-million-sq-ft master development that will showcase the greenest living spaces in Dubai and is home to an 18-hole championship golf course. The community will also comprise shopping, retail, entertainment and hospitality components, amongst others to complement its residential offering of villas, apartments and serviced units.

Source: Trade Arabia

Background Information

Arabtec Holding

A leading engineering and construction Group specialising in complex projects in the Middle East and North Africa. Through its operating companies and investments, the Group delivers construction and infrastructure projects, including commercial, residential, social, industrial and economic infrastructure in UAE and other selected countries in the region. The UAE-based group’s list of completed projects includes iconic buildings such as the world’s tallest building, the Burj Khalifa in Dubai, Abu Dhabi landmark, the Emirates Palace Hotel and Louvre Abu Dhabi Museum; as well as other technically challenging work on airports and related infrastructure.

 

Damac Properties

DAMAC Properties has been at the forefront of the Middle East’s luxury real estate market since 2002, delivering residential, commercial and leisure properties across the region, including the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Oman and the United Kingdom.

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