United Arab Emirates-based contractor Arabtec Construction has been awarded a AED 628 mn UAE (USD 171 mn) contract from Dubai-based developer DAMAC Properties to design and build new villas at its Akoya Oxygen project, Invest-Gate reports.
Arabtec Holding’s Group CEO Hamish Tyrwhitt says, “We are pleased to be continuing our longstanding collaboration with DAMAC Properties, which demonstrates our track record in delivering projects for our key clients in the UAE.”
Under the deal, Arabtec will build 1,296 villas at the site in the Al Yufrah 2 area of the city, the contractor said. It expects to start work on site within the current quarter and to complete the project within two years.
Akoya Oxygen is a- 55 mn- square- foot- master- development that will be anchored by a Trump World Golf Club, the second golf club that the Trump Organization- owned by United States President Donald Trump- has designed for DAMAC. It will also operate and manage the club once it opens, which is expected to be by the end of 2018.