Damac awards $139m contract for flagship Dubai project
China State Construction Engineering Corporation wins contract from Damac Properties to build tower C of Aykon City project. Damac Properties has awarded an AED512 million ($139 million) construction contract to China State Construction Engineering Corporation (CSCEC) to build tower C of Aykon City, Damac’s luxury mixed-use development on Sheikh Zayed Road, Dubai.
The new contract covers civil construction works for tower C, the residential tower in the $2 billion development, which overlooks the Dubai Water Canal. “CSCEC shares our commitment to quality, safety and timely delivery. After a thorough tendering process, we have chosen to expand CSCEC’s remit in the Aykon City project beyond AED1.1 billion, having awarded them the contract to build tower B earlier this year,” said Ali Sajwani, general manager of operations at Damac.
“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.”
Tower C, known as The Residence, will have a total built up area of nearly 1.8 million square feet. It will feature studio, one, two and three-bedroom apartments and will also boast The Club, an exclusive residents-only lifestyle and entertainment space. The 62-floor tower is made up of two basement, a ground and ten podium levels, in addition to a dedicated lifestyle and entertainment level, 48 residential floors and a rooftop.
Aykon City includes premium residential, hospitality and commercial units and will have access to the 3.2km long waterway of the Dubai Water Canal, which runs all the way to the Arabian Gulf, from the Creek in Old Dubai.