DAMAC Properties announces plans for $2bn mixed-use project in Dubai

WCN Editorial Team 23 Feb 2016 MIDDLE EAST BUILDINGS

DAMAC Properties has unveiled plans for the new AED7.4bn ($2bn) six-tower luxury project in Dubai, UAE.

Known as AYKON City, the new 4m sq ft development will be located on the eastern and western sides of Sheikh Zayed road at the Safa Park intersection.


The property will feature an 80-storey AYKON Hotel and Residences, a 63-floor DAMAC Maison Serviced Hotel Residences, a 60-storey apartment, a 65-storey office building, as well as two 30 floor ultra-luxury residential towers with car lifts to each unit.


In addition, the development will also include swimming pools, a spa, a beach club, cafés, restaurants, Yoga and Tai-chi areas, and a private members club.


Construction work is expected to start before mid-2016 and will be completed in 2021.


DAMAC chairman Hussain Sajwani said: "We are delighted to announce a project of this scale in collaboration with Meraas Holding and on such a site in this premier location of the city.


"DAMAC Properties is an established, chosen and trusted real estate developer in the region, selected for the largest and most influential projects, and this area of our city is one of the most important developments in Dubai's expansion, opening up access to many kilometres of the Dubai Canal."

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