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FINANCIAL NEWS
Dubai’s Damac awards USD326m construction contracts
17 Feb 2015
(MENAFN) Five major construction contracts were awarded by the Dubai-based luxury real estate developer Damac Properties so far in 2015. The contracts are worth a total of USD326.6 million, Arabian Business reported.
Damac Properties awarded the construction contract for the first 981 villas in its new 55 million square feet master development to Ghantoot. The main contract for building Priv’ by Damac was given to Seidco.
Damac announced Civilco to be the main contractor of Celestia, a luxury hotel apartment’s development. Reem Capital will build Damac Properties luxury hotel apartment’s project, Vantage, in Jumeirah Village.
“We have a strong belief in Dubai’s fundamentals and by making such a high level of investment in these construction contracts, we are demonstrating our commitment to owners,” Damac vice president said.
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