12/02/2018 05:43 AST

Damac Properties has awarded, among others, a construction contract to Emirates Electrical Engineering LLC (EEE) for a third 132/11KV substation at its 55 million square foot master community, AKOYA Oxygen. The new substation will feed power to a further 2,888 villas and 855 apartments and is expected to be commissioned within two years.

This is the third contract awarded by Damac for the construction of substations at AKOYA Oxygen, and is the first for EEE, following previous substation builds by ABB and Jazeera Emirates.

"This is the first major contract to be awarded in 2018 as we continue to accelerate construction development at AKOYA Oxygen, to provide electrical supply for all residential units in phases 6, 7 and 9," said Mohammed Tahaineh, Senior Vice President - Commercial, Damac Properties. "We are making positive progress with construction efforts at AKOYA Oxygen and across all our developments, with more than Dhs3.5 billion in contracts awarded in 2017 alone."

AKOYA Oxygen offers a tranquil environment with lush, green surroundings in a secluded, family-friendly community, with energy-efficient homes surrounded by beautiful landscaping and cascading water features.

Located off the Umm Sequim Road extension and approximately 15 minutes from DAMAC Hills, AKOYA Oxygen will include contemporary residential properties of various sizes surrounding an 18-hole championship golf course.

Community precincts at AKOYA Oxygen will contain facilities arranged around local plazas that house a variety of functions such as mosques, clinics, schools, nurseries, gyms, post offices, restaurants and local grocery shops.

The 18-hole golf course will comprise of two loops of nine holes starting and finishing at the centrally located clubhouse, hotel, driving range and putting green. The Golf course is landscaped to achieve variation between holes with scenic waterways linked to overall site. The southern quarter will include a signature high-rise tower cluster, mid-rise residential apartments and local community precinct.


The Gulf Today

Damac issues enabling works tender for its Vera Residences

20/03/2018

Damac Properties has issued a new tender for enabling works on its Vera Residences, a luxurious 30-storey tower in the heart of Business Bay, with elegantly appointed interiors, world-class amenities

The Gulf Today

Damac issues tender for new Aykon City tower

13/03/2018

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.

Trade Arabia

Damac awards Dhs424m construction contract

08/03/2018

Damac Properties has awarded another construction contract worth Dhs424 million to Arabtec to build additional villas in AKOYA Oxygen. EFECO (Emirates Falcon Electromechanical Co.), a subsidiary of A

The Gulf Today

Ticker Price Volume
HERFYFOODS 26.10 412,306
SAUDIKAYAN 7.97 2,386,433
ORDS.MSM 0.28 0
SEERA 22.68 1,240,393
BUDGETSAUDI 84.80 113,172
VOES 0.40 42,241
FUTUREKID 113.00 724,193
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
YAHSAT 1.96 0.02 (1.03%)
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%)
EEC's capital optimization plan to shore up financial position and sustain growth: CEO

14/09/2024

RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <

Saudi Gazette

Arabian Mills set final IPO price at $17.59 per share as CEO details growth vision

12/09/2024

Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces

Arab News

SABIC-MCC joint venture starts output

04/05/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula