Dubai’s Damac Properties has awarded a contract worth approximately $163m (AED 600 million) to China State Construction Engineering Corporation (CSCEC) for the construction of one of the towers at Akyon City, Damac’s luxury master development on Sheikh Zayed Road.
The contract covers main works for the tower, which consists of serviced apartments. The tower includes two basement levels, 10 podium levels and 53 residential floors.
"CSCEC is one of the biggest contactors in the world and after careful consideration of various aspects, we agreed to the proposed partnership," said Mohammed Tahaineh, Senior Vice President – Commercial, Damac Properties.
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 cubic metres of concrete. The main works are expected to start on 1 March 2018.
Damac says Akyon City is one its most ambitious development projects in Dubai.
The 4-million-sq-ft development was launched in February 2016, and is located on the eastern and western sides of Sheikh Zayed road at the Safa Park intersection and near the Dubai Canal.
Image: Artist’s render of the Akyon City towers (Damac)