Contractor to build 168 villas for Damac’s Akoya Oxygen project
Punj Lloyd, India’s second largest engineering and construction company, has announced that it has won a $45.7 million contract for work on Damac’s Akoya Oxygen project.
The contract was awarded to Punj Lloyd by Front Line Investment Management Co, a subsidiary of Damac Properties Development. It will cover the construction of 168 villas at the Trixis Cluster of the Akoya Oxygen master development in Al Yufrah 2.
Located along the Umm Suqeim Expressway and spread over 5.10 million square metres, Akoya Oxygen is a residential community built to an environmentally friendly masterplan, with road network systems designed to reduce pollution and dedicated spaces for bicycles and hybrids.
“Dubai is today synonymous with luxury and it is our privilege to win this contract for a premium luxury development,” said Shantanu Karkun, president and CEO, Buildings and Infrastructure, Punj Lloyd.
“The Akoya Oxygen community will have the region’s first rainforest and will be fully completed before Expo 2020. Punj Lloyd Group has delivered several luxury spaces including the Jumeirah Islands Villa in Dubai, the Four Seasons Hotel in Singapore and the many integrated iconic entertainment resorts in Singapore.”
The community will feature homes set amongst greenery alongside an 18-hole golf course. A five-star hotel and 2,000 hotel apartments will also be developed in the project, aside from the residential elements. A 92,903sqm retail and entertainment district featuring a waterway and more than 1.5kms of walkway will also be developed.
With the win, the Punj Lloyd’s order backlog stands at $3.81 billion, the company said in a statement. The order backlog is the value of unexecuted orders on December 31, 2015, plus new orders received after that date.