Luxury real estate developer DAMAC Properties has awarded five major construction contracts worth a total of AED 1.2 billion so far in 2015.
Signifying the developer’s firm belief in the Dubai real estate market, DAMAC Properties has appointed five contractors for additional work on its two luxury master developments, AKOYA by DAMAC and AKOYA Oxygen in addition to main works packages on three of its serviced hotel apartment’s projects, Privé by DAMAC, Celestia and Vantage.
“Over the past year there has been significant investment from buyers all over the world in our luxury living concepts – particularly our serviced hotel apartment units and both of our stunning golf communities,” said Niall McLoughlin, Senior Vice President, DAMAC Properties. “We have a strong belief in Dubai’s fundamentals and by making such a high level of investment in these construction contracts, we are demonstrating our commitment to owners to deliver high quality living experiences in good time.”
The company has also moved into developing large master developments, with its AKOYA by DAMAC and AKOYA Oxygen communities, both of which will be home to a Trump managed 18-hole, Championship-standard golf course. Tiger Woods is designing the course in AKOYA Oxygen.