Arabtec secures $115m Damac contract to build 916 villas

9 March 2018 (Last Updated March 9th, 2018 10:59)

UAE-based Arabtec Holding's subsidiary Arabtec Construction has secured an AED424m ($115m) contract from Damac Properties to build 916 villas in the Akoya Oxygen Master Development.

UAE-based Arabtec Construction has secured an AED424m ($115m) contract from Damac Properties to build 916 villas in the Akoya Oxygen Master Development.

For the project, mechanical, electrical and plumbing (MEP) works will be carried out by  Emirates Falcon Electromechanical (EFECO).

Both Arabtec Construction and EFECO are subsidiaries of Arabtec Holdings.

Measuring 55 million square feet, Akoya Oxygen is a master development that will feature the greenest living spaces in Dubai and an 18-hole championship golf course.

“The onboarding of repeat business from our clients is testament to our strengthened relationships across our core geographies and in our core competencies.”

The project work will include the construction of 329 units in Mimosa, 419 units in Basswood and 168 units in the Amazonia extension located in phase six of Akoya Oxygen.

The three phases will include a built-up area of approximately 148,000m².

The company noted that work is scheduled to commence this month and will take 22 months to complete.

Arabtec Holdings Group chief executive officer Hamish Tyrwhitt said: “We are delighted to have been awarded another project from DAMAC Properties.

“The onboarding of repeat business from our clients is testament to our strengthened relationships across our core geographies and in our core competencies.”

In order to complement the residential offering of villas, apartments and serviced units, Akoya Oxygen will also include shopping, retail, entertainment and hospitality components.

Engineering and construction firm Arabtec Holding specialises in complex projects in the Middle East and North Africa.

Through its operating companies and investments, Arabtec offers construction and infrastructure projects, including commercial, residential, social, industrial and economic infrastructure in UAE and other selected countries in the region.