DAMAC Lagoons awards AED 2.4bln worth of contracts in the first half of 2023

DAMAC Lagoons awards AED 2.4bln worth of contracts in the first half of 2023

- 11 clusters to be part of the 48-million-square-feet master community

- Second out of three substations awarded to Danway

Dubai, United Arab Emirates: Leading UAE-based real estate developer DAMAC Properties has secured contracts worth AED 2.4 billion for its DAMAC Lagoons project since the beginning of this year.

Some of the key appointments include Ginco General Contracting LLC, which was awarded AED 753.9 million for the main works of 1,127 villas and townhouses at the Malta cluster, while China Nuclear Industry 22nd Construction Co. Ltd. was awarded close to AED 270 million for the main works of 433 villas in the master development’s Mykonos cluster and over AED 256.5 million for main works of 424 villas in the Monte Carlo cluster.

Earlier this year, the developer announced a contract for a 132/11kV substation to Danway Electrical & Mechanical Engineering LLC. As per the master development plant, this is the second of three substations planned for the 48-million-square-feet community.

“DAMAC Lagoons is one of our most exclusive projects – in size, scope and offerings. I am delighted to see the progress it makes every day, often times exceeding expected dates of completion for various stages of construction. We are pleased to see it grow in