Contracts Worth $81.74 Million Awarded by DAMAC Properties

According to a press release, DAMAC Properties, a real estate developer, has been awarded the main works package for the developments in DAMAC Hills 2, with an estimated value of AED 300 million.

The China Tiesiju Civil Engineering Group Company Limited branch in Dubai was given the first contract, securing more than AED 210 million for 439 villas and townhouses in the Natura cluster.

In the meantime, AED 7 million was raised by Infra Nets Contracting LLC to build roads and other infrastructure for the DAMAC Hills 2 Farmhouses, Verona, Natura, and Violet Clusters.

Mohammed Tahaineh, General Manager of Projects at DAMAC, said: “I am delighted that soon, many more will join them from the Farmhouses, Verona, Natura, and Violet clusters, thanks to these latest contracts.”

The two contracts were announced as part of a recent deal that covered AED 2.40 billion for DAMAC Lagoons in the first half (H1) of 2023 and AED 236 million for Camelia in DAMAC Hills 2.