Luxury real estate developer in the Middle East – DAMAC Properties – has awarded a contract worth AED 1.2bn to Darwish Engineering Emirates LLC for its DAMAC Lagoons development.
The contract consists of the main works package of 275 villas in the ‘Venice’ cluster of its highly anticipated third master community DAMAC Lagoons. Currently, the development has awarded close to AED 7bn for the master development.
Over AED 1bn worth of contracts to date for infrastructure, and over AED 5.6bn worth of contracts have been awarded to date for villa construction. In the first half of 2023 alone, DAMAC secured contracts worth AED 2.4bn – a testament to the project’s steady construction momentum.
Additionally, 1,432 villas – across two clusters – are in the final stages of appointing the main contractor, while 1,025 villas (also across two clusters) are in the final stages of design. More than 2,600 villas have already reached the ground floor or above.
A daily workforce of over 14,000 individuals supported by over 100 excavators and more than 850 vehicles enters the site daily, reflecting the significant employment opportunities that the development provides. Remarkably, DAMAC Lagoons has achieved over 19.6 million safe man-hours without any lost time incidents, demonstrating workforce wellbeing.
Spanning 4.5 million sqm, DAMAC Lagoons is the company’s third master community development in the city and is located adjacent to DAMAC Hills. The development’s prime location provides residents with nearby access to schools, entertainment centres, and hospitals.
“We are immensely proud and delighted to see the progress our third and most exclusive master development is making. Since we launched the project in 2021, we have made significant progress, with an impressive 20% construction well underway for 6,459 villas spread across 13 clusters. We will continue to keep pace with this progress and ensure timely delivery.”
Mohammed Tahaineh, General Manager of Projects, DAMAC
Themed on the Mediterranean region with a focus on water-inspired features, DAMAC Lagoons will be divided into multiple clusters, each taking inspiration from a different Mediterranean city, such as Venice, Ibiza, Malta, Marbella, Morocco, Monte Carlo, Mykonos, Costa Brava, Nice, Portofino and Santorini.
With a total gross floor area (GFA) of 2.3 million sqm, the community will include over 9,000 villas. To date, over 95% of released units have been sold to buyers and investors.
In line with the water-inspired theme, the community will consist of 176,650 sqm of water spaces – an area larger than 141 Olympic-sized swimming pools. On completion, the community is expected to accommodate over 39,400 people.
Amenities include an exclusive clubhouse, green meadows, retail shops, a floating amphitheatre, fitness centres, crystal lagoons, kids’ play areas, an inland white beach, a water cinema, a wave pool and waterpark.
In line with DAMAC’s commitment to sustainability, the development is also currently in the process of obtaining a LEED Gold certification, aiming to become one of the first master communities in the UAE to receive this prestigious rating under the LEED Cities and Communities Rating System. DAMAC Lagoons will integrate green and sustainable features at every stage, from initial design to construction, and future operation.
