Real Estate

DAMAC Properties today announced that it granted 25 construction and consultancy contracts worth AED 3 billion in the first half of 2016.

Contract awarded include the main plans for more than 2,678 rental properties within its luxury lifestyle community; AKOYA Oxygen, in addition to 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. In AKOYA by DAMAC, the Golf course is finished and the handover of approximately 766 villas is imminent."

"The drive to provide luxury living lies at the core of DAMAC Properties' mission. This is a very amazing time to be part of the Dubai real estate market renewal as we anticipate dealing with superior professionals and consultants to make sure the delivery of our projects," concluded El Chaar.

As of 31st March 2016, DAMAC Properties has provided over 15,800 houses, consisting of roughly 2,000 hotel units. The business has an advancement portfolio of over 44,000 units at various phases of progress and preparation, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, DAMAC Hotels & Resorts. With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.

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