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28/02/2018 05:50 AST
Leading luxury property developer Damac Properties has awarded a Dh600 million ($163.3 million) contract to China State Construction Engineering Corporation for the construction of one of the towers at Aykon City, premier luxury master development coming up on Sheikh Zayed Road overlooking Dubai Canal in the heart of Dubai.
The contract covers main works construction for the tower which consists of serviced apartments within the Aykon City development. The tower includes two basement, ground floor and ten podium levels, in addition to a dedicated lifestyle and entertainment level, 53 residential floors and a rooftop.
Mohammed Tahaineh, the senior vice-president (Commercial) at Damac Properties, said: "This is a major contract towards the realisation of Aykon City, one of Damac Properties' largest master developments in the heart of Dubai."
"CSCEC is one of the biggest contactors in the world and after careful consideration of various aspects, we agreed to the proposed partnership," he stated.
The enabling work for the tower is already complete and it is estimated that its main construction will use more than 11,000 tons of steel and 94,682 metric cubes of concrete.
As per Damac Properties agreement with CSCEC, the main works are expected to kick off on Thursday (March 1).
"The towers at Aykon City will be yet another iconic addition to this great city's dynamic skyline, and we are accelerating its development by choosing the right partner for the job," added Tahaineh.
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Dubai-based Damac Properties has issued a new tender for main works for a second tower at its six-tower luxury master development, Aykon City, on Sheikh Zayed Road overlooking Dubai Canal.
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| Ticker | Price | Change |
|---|---|---|
| BURGERIZZR | 12.50 | -0.50 (-3.85 |
| ALMUTAHED | 0.00 | 0.00 (0.00 |
| ALMAL | 0.00 | 0.00 (0.00 |
| ALAMAN | 0.00 | 0.00 (0.00 |
| MASSALEH | 0.00 | 0.00 (0.00 |
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