Damac issues eight new construction tenders

source Arabian Business

Damac Properties has announced the issuance of eight tenders for ongoing projects in Dubai, as it aims to deliver a total of 25 towers in the next two years.

Main works tenders have been issued for Capital Bay, Executive Bay, The Corner, Park Central, Burjside Boulevard, Amber Residence, Lake side and Al Jawhara.

Enabling tenders have also been put out for Commercial Square, Water's Edge and Harbour Heights project, the company said.

Related: Developers need to act to ease mortgage crisis - Damac chief
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Damac's general manager of operations, Ziad El Chaar, said: "The first half of the year we have made significant progress. We delivered over 2,300 units and we will continue to be aggressive on delivery.

"Continuing with the momentum of the year, in July we have issued eight new tenders. In the next two years our aim is to have delivered a total of 25 towers totalling to 7,100 units."

The announcement comes amid the worst downturn in Dubai's real estate and construction sectors with thousands of workers losing their jobs and large numbers of projects being delayed or cancelled.

Earlier this year, Damac announced the completion of Lake View and Executive Heights and The Crescent projects.

The company said it has already delivered more than 3,000 units into the market place and will continue with steady progress across all its projects this year.

Ocean Heights real estate project in Dubai Marina reaches 50-storey mark

source Go Wealthy

DAMAC Properties, Dubai-based luxury lifestyle provider, has announced the completion of the 50th floor of its flagship real estate project - Ocean Heights at Dubai Marina. Gearing to become one of the tallest buildings in Dubai Marina, 84-floor tower is being completed at the rate of a floor a week.

DAMAC Properties, Chairman & Founder, Hussain Sajwani, said, "This is a significant day for Ocean Heights and also for DAMAC Properties. At a time when all the talk is of construction slowing down and projects being cancelled, we are pleased to announce that we are going full steam ahead on Ocean Heights."

Construction of Ocean Heights commenced in 2007 and completion is expected in the summer of 2010. The real estate development will offer 680 apartments ranging from 1 to 3 bedrooms. In addition, several floors of the building will feature DAMAC Properties' Signature Series penthouse range. It will offer variety of leisure amenities apart from being well connected with Dubai Metro.