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Damac Properties awards Arabtec Construction two new contracts

UAE - January 3, 2019

Arabtec Construction, a subsidiary of the renowned UAE-based contracting group Arabtec Holding, has won two new contracts with the total value of $169m for project in Business Bay and Akoya Community owned by Damac Properties, the leading Dubai-based property developer.

The first awarded contract is for Reva Residences and Vera Residences, two upcoming 30-storey residential projects situated in Dubai’s Business Bay in a location that overlooks Dubai Water Canal. The two towers span a total area of 12.5 hectares of land.

On the other hand, the second contract is for Damac’s master development, Akoya Community; as per the contract, Arabtec Construction will build villas in Aquilegia cluster in Akoya Community in Dubai.

In his comment on winning the two contracts, Hamish Tyrwhitt, the CEO of Arabtec Holding group, said that working with giant names in the industry like Damac Properties multiple times reflects their high confidence in Arabtec’s standards and commitment to deliver the projects in a timely manner, as well as Arabtec’s strong relationships with its clients.

It is worth mentioning that Arabtec Construction has recently been awarded a $60m contract by Dubai Properties to build 350 villas in Villanova, its new master development.

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