Dubai - Mubasher: Dubai’s Damac Properties has awarded 25 contracts worth AED 3 billion each to implement the structural and consulting works of its projects during the first half of 2016, according to a press release on Sunday.

The contracts include the outsourcing of the main operations for more than 2,680 villas inside its luxury development Akoya Oxygen, added to a number of apartments  overlooking a golf course in “Carson- the Drive” in Akoya by Damac.

The company appointed a number of main contractors and said that work has started at the site. As for Akoya by Damac , the golf course is completed and around 766 villas are to be handed over soon, according to managing director Ziad El Chaar.

Damac Properties has already delivered 15,800 homes, including 2,000 hotel units by 31 March 2016.

The company’s stock retreated 3.4% to AED 2.27 by 11:44am UAE time during Sunday’s session after trading 5.04 million shares, with turnover of AED 11.18 million from 102 transactions.