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Damac awards AED 181m contract to Trans Emirates Contracting

Damac awards AED 181m contract to Trans Emirates Contracting
Zada units are valued at AED 699,999
Damac
DAMAC
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Dubai – Mubasher: DAMAC Properties has awarded Trans Emirates Contracting an AED 181 million contract to start the construction of Zada, a 26-storey building located in the Business Bay.

Damac is launching Zada project amid the challenges facing the property market due to the coronavirus (COVID-19) pandemic and the lockdown, according to a press release on Sunday.

Zada units are valued at AED 699,999 with a 4% waiver of the Dubai Land Department (DLD) fees and four-year payment plan.

The Senior Vice President of Damac, Niall McLoughlin, said: "The new contract with Trans Emirates Contracting confirms the extent of our focus on cooperating with only the best contractors to develop our projects while adhering to the highest quality standards."

It is noteworthy to mention that in August, DLD recorded an 11.3% rise in sales to AED 4.72 billion, when compared to the same month of 2019.