UAE-based construction company Arabtec Construction, a subsidiary of Arabtec Holding, has been awarded an AED 299 mn contract to build 478 luxury villas for DAMAC Properties’ master-planned AKOYA Oxygen community in Dubailand, Invest-Gate reports.
Under the deal, Arabtec is set to start working on the villas immediately, with its completion in the next 16 months, the company said in a statement on October 24.
“We are delighted that DAMAC continues to show confidence in Arabtec Construction through the award of our third project at the AKOYA Oxygen master development, further building on our longstanding relationship,” CEO Hamish Tyrwhitt was quoted as saying.
AKOYA Oxygen is a 55 mn-square-foot mega development showcasing the greenest living spaces in Dubai and features an 18-hole Donald Trump-branded golf course designed by Tiger Woods. The residential offering of serviced and non-serviced villas and apartments are complemented by community conveniences and world-class amenities.