DAMAC Properties dished out 25 construction and consultancy contracts worth AED 3bn ($816mn) in the first half of 2016.
Contracts awarded include the main packages for residential property development AKOYA Oxygen, as well as the main package for Golf apartment buildings at Carson – The Drive at AKOYA by DAMAC.
Ziad El Chaar, Managing Director, DAMAC Properties commented: “In AKOYA Oxygen, the total number of villas now awarded exceeds 2,670. The Golf course design is completed and we are making progress in the selection of the Golf course main contractor.
“The designs of several clusters are completed, several main contractors were appointed and work started in many areas on site. In AKOYA by DAMAC, the Golf course is completed and the handover of approximately 766 villas is imminent.”
As of 31 March, DAMAC Properties has delivered over 15,800 homes, including approximately 2,000 hotel units.
The company has a development portfolio of over 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, DAMAC Hotels & Resorts.