Arabtec wins $171m Akoya homes contract from Damac
Damac Properties has awarded Arabtec Construction with a $171m contract to develop 1,296 villas at Damac’s Akoya Oxygen master development
Damac Properties has awarded Arabtec Construction a $171m (AED628m) contract to develop 1,296 villas at its Akoya Oxygen master development.
Arabtec will begin construction this quarter at the 511ha development in Dubailand.
Work is expected to be completed within 24 months.
Remarking on the contract award, Mohammed Tahaineh, senior vice president of commercial at Damac Properties, said: "With Arabtec, we are confident that the momentum and steady progress at Akoya Oxygen will remain on track right through to project completion."
Amenities at Akoya Oxygen include an 18-hole championship golf course, along with an organic produce market, hydroponic café, luxury wellness centre, an outdoor yoga enclave, and retail outlets featuring well-known brands.