DAMAC Properties Awards 15 Major Contracts Worth AED 1.26 Billion From August to November 2016

Dubai, United Arab Emirates - 13 December 2016: DAMAC Properties today introduced that it has actually granted 15 major construction and consultancy agreements valued at AED 1.26 billion during the duration in between August and November 2016, bringing the complete worth of contracts granted until now in 2016 to AED 6.51 billion for jobs in Dubai and the UK.

The granted agreements are for the provision of services related to a number of projects in Dubai consisting of DAMAC Properties' two golf communities AKOYA by DAMAC and AKOYA Oxygen, along with multi-tower jobs AYKON City and DAMAC Towers by Paramount Hotels & Resorts. At AKOYA by DAMAC, the contracts cover the primary works for construction of rental properties and apartments in numerous collections of the masterplan community. At its second master planned community, AKOYA Oxygen, the contracts granted cover main works for construction of rental properties along with roadways and facilities jobs, piling as well as consultancy contracts for the provision of design and guidance solutions related to the clubhouse and sub-stations.

Mohammed Tahaineh, Senior Vice President - Commercial, DAMAC Properties commented: "With the handover of 1,350 suites and homes at AKOYA by
DAMAC in the last quarter of 2016, as well as the upcoming opening of the Trump International Golf Club, Dubai throughout the first quarter of 2017, AKOYA by DAMAC is quickly proceeding and forming - on course to coming to be a full-fledged community. We deal with reputable contractors that have huge experience in their locations of specialisation, and make every effort to alleviate risks in project delivery by awarding numerous elements of the development to a host of contractors."

" The total progress of the golf framework job of AKOYA stands at 95%. Trump PRVT, arranged for handover during Q1 2019, will certainly mark the completion of the entire AKOYA by DAMAC master advancement. In AKOYA Oxygen, we continuously achieve significant progression as we have actually designated 8 major contractors so far for the construction of 5,676 suites and jobs have actually begun for all," Tahaineh ended.

The golf course construction bundles at AKOYA Oxygen have actually been granted and jobs are under progression. The backbone framework design is finished, mobilization works are completed and engineering jobs remain in development. Styles of several collections are completed and several major contractors are appointed.

To provide these works, DAMAC Properties has selected some of the industry's significant local and worldwide names such as Ghantoot Gulf Acquiring, Al Arif.
Getting LLC and National Piling (NPC), among others.

China State Construction Engineering Firm was also among the key visits throughout this period, with the largest agreement valued at AED 554 million,making up the main jobs package for the houses at Paramount Tower Hotel & Residences, located in Dubai. Along with this domestic and hospitality tower project, DAMAC Properties likewise selected specialists for the stipulation of making it possible for works and shoring operate at AYKON City, situated on Sheikh Zayed Road and overlooking Dubai Canal.

Up until now in 2016, DAMAC Properties has actually introduced a number of significant tasks with a incorporated worth in excess of AED 15 billion. The brand-new variety of tasks comprised AYKON City hotel apartments and hotel areas, AYKON City household apartments, XV Villas at AKOYA by DAMAC, The Beach by Maison De Ville, Tower 108, AKOYA. Cuatro Villas, AKOYA Think of, AKOYA Envision stories, AKOYA Imagine 2.0, AKOYA. Fresh, AKOYA Selfie, AKOYA Manarola and DAMAC Maison Priv, DAMAC Maison. Majestine, DAMAC Maison De Ville Artesia, DAMAC Maison De Ville Tenora and.
DAMAC Maison De Ville Celestia, in addition to Trump PRVT.