DAMAC Properties has awarded a AED 512mn ($140mn) construction contract to China State Construction Engineering Corporation (CSCEC) to build tower C of AYKON City, its luxury mixed-use development on Sheikh Zayed Road.
The contract covers civil construction works for tower C, the residential tower in the $2bn development overlooking the Dubai Water Canal.
This is a follow up contract for CSCEC after it was awarded a $160mn deal to build AYKON City’s first tower in February.
“CSCEC shares our commitment to quality, safety and timely delivery. After a thorough tendering process, we have chosen to expand CSCEC’s remit in the AYKON City project beyond AED 1.1bn, having awarded them the contract to build tower B earlier this year,” said Ali Sajwani, General Manager of Operations at DAMAC Properties.
Tower C, known as ‘The Residence’, will have a total built up area of nearly 1.8 million square feet featuring apartments ranging from studio to three bedrooms.
The tower will also boast ‘The Club’, an exclusive residents-only lifestyle and entertainment space with spectacular views of Dubai Water Canal and Safa Park.
The 62-floor tower is made up of two basement, a ground and ten podium levels, in addition to a dedicated lifestyle and entertainment level, 48 residential floors and a rooftop.
AYKON City is one of DAMAC’s most ambitious development projects in Dubai. It will include an 80-storey all-suites Aykon Hotel and Residences tower, a 63-storey Damac Maison Serviced Hotel Residences, a 60-storey apartment tower and a 65-storey office tower.
It will also have two 30-floor ultra-luxury residential towers with car lifts to each unit and direct views over Dubai Canal and Safa Park.