Enjoy our faster App experience

Damac Properties awards Dh2.8 billion in contracts

Damac Properties awards Dh2.8 billion in contracts

Ghantoot Gulf Contracting has been awarded the package to build 981 villas at Akoya Oxygen, while Lootah Building & Co will start work on building the 547 villas.



By (Staff Report)

Published: Wed 10 Jun 2015, 11:10 PM

Last updated: Wed 8 Jul 2015, 2:47 PM

Mohammed Tahaineh and Ali Mohamed Sadek Al Baloshi.

Dubai — Leading luxury real estate developer, Damac Properties, has already awarded more than Dh2.8 billion in construction contracts in the first five months of 2015.

Awards include the main works packages on more than 1,500 villas within its luxury lifestyle community, Akoya Oxygen, three new apartment blocks at Akoya by Damac and the main contracts for three of its hotel apartment’s projects, Damac Maison Privé, Naia Vantage and Naia Celestia.

Ghantoot Gulf Contracting has been awarded the package to build 981 villas at Akoya Oxygen, while Lootah Building & Co will start work on building the 547 villas. Seidco General Contracting  has been awarded the contract to build three G+7 complexes at Akoya by Damac, with Pivot Engineering receiving a main works package for the 239 villas in Akoya Park.

“Ghantoot Group would like to express its thanks to the close relationship with Damac Properties, and this project is a quantum leap in the size of the special relationship between the two companies. This is the second project that we are cooperating with Damac Properties and there are future projects which will be posted. This demonstrates the size of the partnership between the two companies,” said Ali Mohamed Sadek Al Baloshi, chairman of Ghantoot Group.

Civilco Civil Engineering & Contracting Co has been awarded the main package to build Naia Celestia in the Dubai World Central District, Damac Maison Privé will be built by Seidco General Contracting, and Naia Vantage has been awarded to Reem Capital Contracting.

“As a leading developer across the region, Damac Properties only works with the best-in-class companies to deliver the highest standards of luxury to our customers,” said Mohammed Tahaineh, senior vice president – commercial, Damac Properties. “These awards go a long way to showing our confidence in the Dubai real estate market and they will ensure a strong pipeline of deliveries.”

“These awards are the start of a major building programme we have coming up across the course of the year and there will be many opportunities for high quality contractors in the coming months as we release more tenders on our luxury living portfolio,” added Tahaineh.

In addition to the main work packages awarded, Damac Properties has also awarded contracts for construction of the clubhouse at the Trump International Golf Club, Dubai, in the Akoya by Damac master development in Dubailand. Seidco General Contracting  is already on-site and work is well underway. Jazeera Emirates Power has also started work on a second sub-station at the 42 million square foot lifestyle community.

     business@khaleejtimes.com


More news from Markets