Arabtec Awarded AED 269 Million Contract for the Construction of Luxury Homes in DAMAC’s AKOYA community

Dec 31,2018

Dubai, UAE – 31 December 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 269 million contract by DAMAC Properties. The contract is for the construction of luxury villas in Dubai’s AKOYA community.

Arabtec Construction will build the villas in the Aquilegia cluster, comprising a built-up area of more than eighty-six thousand square metres. The contract works will commence immediately with a construction period of 22 months.

AKOYA community is a 55 million-square-foot master development that showcases an 18-hole championship-style golf course and lush landscaping. The community will also offer shopping, retail, entertainment and hospitality outlets, spread across its residential offering of villas, apartments and serviced units.

Group Chief Executive Officer, Mr. Hamish Tyrwhitt commented: ‘We are delighted that DAMAC has again selected Arabtec Construction to deliver the most important element within the AKOYA community. This marks another residential villas project, demonstrating Arabtec Construction’s strength and core competency in the building sector.’