Dubai – Mubasher: Arabtec Holding announced that its wholly-owned subsidiary Arabtec Construction was awarded on Wednesday a contract from Damac Properties for the construction of 916 villas in the Akoya Oxygen Master Development.
This real estate contract is valued at AED 424 million, according to a bourse filing to the Dubai Financial Market (DFM) on Wednesday.
Arabtec, a leading contractor for social and economic infrastructure, added that Emirates Falcon Electromechanical Co. (EFECO), another 100%-owned subsidiary of will be executing the MEP works for the project.
The project includes 329 units in Mimosa, 419 units in Basswood, and 168 units in Amazonia extension located in Phase 6 of the Akoya Oxygen Master Development.
“The 3 phases comprise a built-up area of approximately 148 thousand square meters and will take 22-months to complete, commencing in March 2018,” the statement noted.
Akoya Oxygen is a 55-million-square-foot master development which will showcase the greenest living spaces in Dubai.
