Construction

Damac Properties awards $139mn contract to CSCEC

Contractor will build Tower C – The Residence – in Aykon City

Damac Properties, the UAE-based real estate developer, has awarded a $139 million contract to China State Construction Engineering Corporation (CSCEC) for the construction of Tower C at its luxury mixed-use development, Aykon City, which is located on Sheikh Zayed Road in Dubai.

The project, one of the most ambitious in Damac’s portfolio, is built around the concept of an entire city-like infrastructure within Dubai. The mixed-use development will include premium residential, hospitality and commercial units, with access to the 3.2km long waterway of the Dubai Water Canal, a statement from Damac said.

The new contract awarded to CSCEC covers the civil construction works for Tower C, which is a residential tower in the $2 billion development and overlooks the canal.

“CSCEC shares our commitment to quality, safety and timely delivery. After a thorough tendering process, we have chosen to expand the Chinese group’s remit in the Aykon City project beyond Dh1.1 billion, having awarded them the contract to build tower B earlier this year,” said Ali Sajwani, general manager of operations at Damac Properties.

“We also look forward to seeing the towers of Aykon City complement Dubai’s distinctive skyline and one of the world’s greatest urban transformations, the Dubai Water Canal.”

Known as ‘The Residence’, Tower C will have a total built up area of 1.8 million square feet. It will feature studio, one- and two-bedroom apartments, all with high-end interiors and finishing, Damac said.

The 62-storey tower is made up of two basement levels, a podium with a ground floor and 10 levels, a dedicated lifestyle and entertainment level, 48 residential floors and a rooftop. Furthermore, the tower will also host ‘The Club’, a residents-only lifestyle and entertainment space with views of the Canal and Safa Park.

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