DAMAC Awards Two Key Contracts Worth AED 588 Million for DAMAC Hills Master Development
Dubai, United Arab Emirates, 27 September 2023 — DAMAC Properties, a leading real estate developer in the UAE, announces the successful awarding of two significant contracts for its flagship master development, DAMAC Hills. The contracts, valued at a total of AED 588 million, were awarded to Engineering Construction and Reconstruction Company and underscore DAMAC's commitment to delivering exceptional quality and innovation in the real estate sector.
The first contract, valued at AED 341 million, is for the main works of the GEMS Estates cluster within DAMAC Hills. The second contract, worth AED 247 million, is designated for the main works as part of Cavalli Villas, also located within the prestigious DAMAC Hills community.
DAMAC Properties has consistently demonstrated its dedication to creating world-class, sustainable communities that redefine modern living standards. The awarding of these contracts signifies another milestone in DAMAC's mission to deliver luxurious and aspirational living experiences to its customers.
GEMS Estates is an ultra-luxurious collection of high-end mansions branded by Swiss jeweller de GRISOGONO, with home interiors branded by famed Italian fashion house Roberto Cavalli, making it the first co-branded real estate project in the world.
The contract includes the construction of a range of high-end villas and amenities that will elevate the lifestyle of residents to new heights. From lush green spaces to cutting-edge recreational facilities, Gems Estates cluster promises to be a haven for those seeking luxury, comfort, and convenience.
Cavalli Villas, a unique addition to DAMAC Hills, embodies the essence of sophistication and elegance. With a contract worth AED 247 million, DAMAC Properties is set to create a distinctive enclave of villas that blend modern aesthetics with timeless charm. Residents of Cavalli Villas will enjoy a harmonious blend of privacy, security, and community living, all set against the backdrop of DAMAC Hills' picturesque landscapes.
"We are delighted to announce the awarding of these two significant contracts for DAMAC Hills," said Mohammed Tahaineh, General Manager of Projects, DAMAC Properties. "These contracts underscore our unwavering commitment to delivering on our promises of excellence and luxury. We believe that Gems Estates Cluster and Cavalli Villas will set new standards in upscale living, offering our customers unparalleled value and quality."
The commencement of construction on Gems Estates Cluster and Cavalli Villas marks the beginning of a new chapter in DAMAC Properties' legacy. The company is determined to continue its tradition of creating iconic developments that contribute to the growth and prosperity of the region.
DAMAC Properties is dedicated to the highest standards of quality, craftsmanship, and innovation, and these contracts reflect the company's ongoing efforts to push boundaries and redefine luxury living in the Middle East and beyond.