Enabling Works Contract Awarded Damac Properties for Marina Bay

Damac Properties is a Dubai based real estate developer hat has been awarded with a contract worth Dh 7.5 million for facilitating works at Marina Bay construction in Abu Dhabi. Marina Bay is a well designed mixed use development comprising of retail and commercial space, a 25 storey tower offering two and three bedroom apartments, facilitated shops, restaurants etc. The Chairman of Damac Holdings, said, “We are delighted to see that work on site at our Marina Bay development will commence very soon and that we can begin the process of building this truly stunning tower at such a fantastic location.”

Marina Bay is a prime development offering canal views through the entire development. At the prestigious CNBC awards 2008, this property in Abu Dhabi won two awards for the Best Marina Development and another one for Best High-rise Architecture. Peter Riddoch, CEO of Damac properties commented: “Abu Dhabi is a very significant marketplace for Damac Properties and we know that the location of our Marina Bay tower will be hugely attractive to customers.” More than 3000 units have already been delivered by this property developer in Dubai into the marketplace. Further, by the end of 2010, they are committed to deliver 7100 more units.

Damac properties have already completed the enabling works for this particular project and apart from this the second project being Oceanscape in the Shams area of the capital. Recently retail units have been launched for sale in the already enabled development. Peter Riddoch added: “We have made a clear commitment to progress and construction during 2009 and the enabling works starting at Marina Bay is just a typical example of how we are demonstrating this commitment. We look forward to the successful completion of this important foundation work within the next few months.”