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DAMAC Properties Awards Main Contract For Second Abu Dhabi Project
(28 June 2010)

Contract awarded to Al Shafar for Oceanscape development. Second contract in two weeks for Abu Dhabi Projects

Luxury lifestyle provider DAMAC Properties Dubai has announced that it has awarded the main works contracts for its Oceanscape development in Abu Dhabi.

The contract has been awarded to Al Shafar General Contracting and is the second project to be awarded to the company in Abu Dhabi following its successful tender for the construction of Marina Bay at Al Reem Island earlier this month.

Construction of the mixed use development which will feature residential, commercial and retails units is scheduled to take approximately two years.

Commenting on the latest contract award for Abu Dhabi, Ziad El Chaar, General Manager of DAMAC Properties said: ‘We are pleased to announce this second major contract to be awarded in Abu Dhabi within two weeks. Our commitment to work once again with Al Shafar shows the belief we have in their ability to work with us to deliver these two important projects for DAMAC in Abu Dhabi.’

Mr Bishoy Azmy of Al Shafar General Contracting added:‘We are proud to have been selected to work on these two prestigious projects in Abu Dhabi. We know that DAMAC has a reputation for constructing iconic buildings and we look forward to working with them over the coming years.’

Oceanscape will occupy a prime position on the water’s edge at Al Reem Island offering residents uninterrupted views of the sea. The development also includes exclusive sea-facing townhouses above the podium level and with retail space over three levels.

Mr El Chaar added: ‘Our commitment to the Abu Dhabi market and the potential we see for its future growth is reflected in these two significant contract awards.

“Both of these projects that we have recently awarded offer residents the chance to occupy or invest in a prime location in the Abu Dhabi market which continues to remain buoyant and is an attractive proposition for both tenants and owners alike.

‘We know that customers will be pleased to see contractors on site and look forward to seeing the progress of both Oceanscape and Marina Bay over the next two years.’