10 projects worth Dh13b from Damac

Visitors take a look at projects in Damac pavilion during the Cityscape Global which concluded on Thursday in Dubai

Damac Properties continued its string of projects launches in 2016 with the unveiling a brand new villa type in an international golf community.
The developer, which had launched ten major projects so far in 2016 with a combined value in excess of Dh13 billion, announced at Cityscape Akoya Cuatro Villas, built with millennials and their families in mind, feature spacious four-bedroom villas within lush green outdoor spaces.
Damac's new range of projects announced for the first half of 2016 comprised Aykon City hotel apartments and hotel rooms, Aykon City residential apartments, XV Villas at Akoya by Damac, The Beach by Maison De Ville, Tower 108, AKOYA Cuatro Villas, Akoya Imagine, Akoya Imagine plots, and Akoya Imagine 2.0.
Ziad El Chaar, Managing Director, Damac Properties, said the new villa type is being offered in a thriving and family-friendly golf community, that is complemented by world-class amenities such as dining, shopping, hotels and entertainment, all set within a complete lifestyle destination.
"The villas have sizes and layouts ideal for families whilst presenting a great investment opportunity for those looking for a high-yielding and stable real estate asset, to enhance their investment portfolio or to plan for the future. Another value-added feature of this product is that investors will have a plot title deed in hand, allowing them full ownership rights and control of the plot, not just the home which is built on it," he said.
El Chaar said with exclusive, luxury residential apartments in the most convenient and easily accessible locations, we offer premium quality combined with the assurance of strong financial returns
Akoya Cuatro Villas are available at a starting price of Dh1.6 million and investors can avail of extended payment plans over three years and five years free of service charges. Investors who lead busy lives can also opt for fully furnished and serviced villas, featuring fitted kitchens, furnished rooms and luxury services.
At Cityscape Global 2016, Damac Properties also announced four new project launches including The Residences at Aykon City and Aykon Hotel and Hotel Apartments at Aykon City, the XV Villas at Akoya, as well as the Akoya Imagine 2.0 3-bedroom villas.
As of 30th June 2016, Damac Properties has delivered approximately 16,000 homes. The company has a development portfolio of over 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, Damac Hotels & Resorts. With vision and momentum, Damac Properties is building the next generation of Middle East luxury living.
The company said it had awarded 285 construction and consultancy contracts worth Dh5.25 billion across the GCC and UK during the period between January and August 2016.
The awarded contracts cover the public realm landscaping in Akoya by Damac, villas at both Akoya by Damac and Akoya Oxygen as well as infrastructure and the Golf course construction at Akoya Oxygen. To deliver these works, Damac Properties has appointed some of the industry's major names such as China State Construction Engineering, Al Arif Contracting LLC, Ghantoot Gulf Contracting, KEO International Consultants, Lacasa Architects & Engineering Consultants among others.
"Akoya by Damac continues to make great progress with the Golf course completed and the handover of 1,350 villas and apartments this year. In Akpya Oxygen, seven main contractors have been appointed so far and the construction of 6,380 villas is in various stages of development, with many reaching level one. The Golf course works are under progress while the backbone infrastructure contract is awarded and works commenced," El Chaar.
- issacjohn@khaleejtimes.com