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Damac Properties to grant $545m contract in 2009  Join our daily free Newsletter

MENAFN - 04/05/2009
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(MENAFN) Chairman of Damac Properties announced that the company plans to grant $545 million construction contracts of ten new projects in 2009, with the aim to deliver further 7,100 units by the end of 2010, Emirates Business 24-7 reported.

He also announced the completion of about 500 floors of residential, commercial and retail units across Dubai, which is considered a milestone for the company and it aims to double this figure soon. He stressed that Damac's focus for this year and the following is construction and delivery.

He said that the majority of the contracts awarded this year will be main contracts, and Damac plans to deliver 25 towers in total by the end of 2009.

He added that the property developer has delivered over 2,300 units during the last six months and is embarking on an aggressive delivery plan during the next two years.

 




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