Arabtec wins $115 mln contract for 916 villas in Dubai

Arabtec Construction, a wholly owned subsidiary of Dubai-based contractor Arabtec Holding, has been awarded a $115 million (AED 424 million) contract by Damac Properties to build 916 villas in the Akoya Oxygen master development, the company said on Wednesday.

Emirates Falcon Electromechanical Co. (EFECO), a wholly owned subsidiary of Arabtec Holding, will be carrying out mechanical, electrical and plumbing (MEP) works for the project, it added.

The project consists of 329 units in Mimosa, 419 units in Basswood, and 168 units of the Amazonia extension located in phase 6 of the Akoya Oxygen master development.

Work on the three-phase development, comprising a built-up area of 148,000 square meters, will commence this month and take 22 months for completion.

Akoya Oxygen is a 55 million-square-foot development which will house an 18-hole championship golf course, as well as shopping, retail, entertainment, residential and hospitality components.