Damac awards construction contract to Chinese state company

George Sell George Sell Uploaded 02 September 2018

LinkedIn

UAE: Dubai developer Damac Properties has awarded a Dh512 million (US$139 million) contract to China State Construction Engineering Corporation (CSCEC).

CSCEC will build a component of Damac's Aykon City mixed-use project in Dubai. The contract covers civil construction works for Tower C, the residential tower in the $2 billion luxury development overlooking the Dubai Water Canal.

Chinese state-backed CSCEC already won a Dh600m contract in February to build Aykon City's Tower B - a 63-storey project comprising 964 serviced apartments and hotel units.

"After a thorough tendering process, we have chosen to expand CSCEC's remit in the Aykon City project beyond Dh1.1bn, having awarded them the contract to build Tower B earlier this year," said Ali Sajwani, Damac's general manager of operations.

Tower C, known as The Residence, will have a total built up area of nearly 1.8 million square feet across 62 storeys. It will feature studio, one-, two- and three-bedroom apartments, and a residents-only lifestyle and entertainment space called The Club.

LinkedIn

Be in the know.

Subscribe to our newsletter »
Subscribe

Thank you sponsors