Contract Award

  • 07 Mar 2018
    Arabtec Construction Awarded AED 424 Million Contract for 916 villas in AKOYA Oxygen by DAMAC Properties.

    Dubai, UAE – 07 March 2018: Arabtec Holding PJSC (‘Arabtec’ or ‘Group’), a leading contractor for social and economic infrastructure, today announced that its wholly owned subsidiary Arabtec Construction has been awarded an AED 424 million contract from DAMAC Properties for the construction of 916 villas in the AKOYA Oxygen Master Development. EFECO (Emirates Falcon Electromechanical Co.), another wholly owned subsidiary of Arabtec Holdings, will be carrying out the MEP works for the project.

    The project entails 329 units in Mimosa, 419 units in Basswood and 168 units in Amazonia extensions located in Phase 6 of the AKOYA Oxygen Master Development. The three phases comprise a built-up area of approximately 148,000 square metres and will take 22 months to complete, commencing in March 2018.

    Group Chief Executive Officer, Hamish Tyrwhitt commented: ‘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.’

    AKOYA Oxygen is a 55-million-square-foot master development that will showcase the greenest living spaces in Dubai and feature an 18-hole championship golf course. The community will also comprise shopping, retail, entertainment and hospitality components, to complement its residential offering of villas, apartments and serviced units.

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