Contract Award

  • 31 Jul 2017
    Arabtec Construction has been awarded an AED 628 million Project from DAMAC Properties for the construction of villas at AKOYA Oxygen.

    Dubai, UAE – 31 July 2017: Arabtec Construction, a wholly owned subsidiary of Arabtec Holding PJSC (‘Arabtec’ or ‘Group’), a leading contractor for social and economic infrastructure, today announced the award of an AED 628 million contract from DAMAC Properties for the design and construction of the main works for 1,296 villas of the ‘AKOYA Oxygen’ master development in Al Yufrah 2, Dubai.  

    Group Chief Executive Officer, Hamish Tyrwhitt commented: ‘We are pleased to be continuing our long-standing collaboration with DAMAC Properties which demonstrates our track record in delivering projects for our key clients in the UAE. Arabtec’s recent awards show that our selective onboarding of projects across our operating businesses is developing a strong pipeline of work aligned with our core competencies and strategic direction.’  

    The 24-month project will commence this quarter. AKOYA Oxygen is a 5‐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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