DAMAC Properties Awards AED 628 Million Contract to Arabtec Construction for AKOYA Oxygen Development

Main works contract awarded for 1,296 villas at 55-million-square-foot master development 

Dubai, United Arab Emirates – 1 August 2017: DAMAC Properties, a leading luxury real estate developer in the region, awarded Arabtec Construction LLC with a AED 628 million contract to develop 1,296 villas at DAMAC’s AKOYA Oxygen master development. Arabtec will begin construction in Q3 2017 at the 55-million-square-foot green development in Dubailand, and is expected to complete the project within 24 months.

“DAMAC always chooses to partner with leading contractors and consultants who have a proven track record for delivering quality and efficiency. With Arabtec, we are confident that the momentum and steady progress at AKOYA Oxygen will remain on track right through to project completion,” said Mohammed Tahaineh, Senior Vice President – Commercial at DAMAC Properties.   

AKOYA Oxygen offers a tranquil environment with lush, green surroundings in a secluded, family-friendly community. Energy-efficient homes are surrounded by beautiful landscaping and cascading water features. 

Located off the Umm Suqeim Road extension and approximately 15 minutes from DAMAC Hills, AKOYA Oxygen will include contemporary residential properties of various sizes surrounding an 18-hole championship golf course, along with an organic produce market, hydroponic café, luxury wellness centre, outdoor yoga enclave and retail outlets featuring well-known brands.