DAMAC awards $168m contract to build 'Adrenaline Hub' at Lagoons project in Dubai
DAMAC Properties has awarded a Dh618 million ($168m) contract for construction works on its Costa Brava housing cluster at DAMAC Lagoons.
The contractor, Pivot, will begin works on the first 976 townhouses at the water-inspired community.
The Costa Brava cluster will bring residents to the “Wild Coast” of the Mediterranean Sea, Damac said.
“This 'Adrenaline Hub' captures the pulsating vibe of Catalonia with its ziplining, rock-climbing, kayaking, paddle-surfing and wave-riding features,” it said.
The Lagoons project comprises eight clusters named Venice, Morocco, Santorini, Costa Brava, Nice, Malta, Andalucia and Portofino.
A construction contract worth more than Dh500m was awarded to Shapoorji Pallonji for the main works at the Santorini cluster earlier this year.
The Venice and Malta clusters were announced last month, with villas and townhouses set to be built around “extravagantly large pristine water lagoons with white sanded beaches”.
The Venice cluster will feature gondola rides, arching bridges over canals and waterside cafes while the Malta cluster will have learning-based amenities such as a Building Blocks pavilion, where children can construct their own giant houses, and a virtual reality park.
The overall Lagoons development, which was launched late last year, is expected to open in 2024.
Dubai's property market has been booming in the past year. The number of home sales transactions in Dubai in the first quarter was the highest recorded since 2010, according to a market report by real estate consultancy ValuStrat.