UAE-based property development firm DAMAC Properties has awarded a contract worth AED181m ($49.2m) to Trans Emirates Contracting for the main contract of construction of the luxury housing tower, Zada, in Dubai.

DAMAC Properties views the contract as evidence of its strong business model, which was able to absorb the shock caused by the pandemic.

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Located in Business Bay neighbourhood, the 26-storey building offers one-bedroom apartments.

The project will feature amenities such as a swimming pool, a children’s playground and a fitness centre, among others. It is located near one of Dubai’s most sought after neighbourhoods the Burj Khalifa.

Residents also have access to the open-air cinema along with a wellness centre and landscaped gardens.

Furthermore, they will have access to life-enhancing amenities, famous neighbourhoods, the finest stores, dining outlets and the world’s largest mall next door.

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At the time of the launch, DAMAC senior vice president Niall McLoughlin said: “We have a strong business model and infrastructure that enables DAMAC to grow, develop, and advance, despite any challenges we may face. This is a reflection of our organisational capacity to continue our progressive journey.

“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, and our Zada project is a reaffirmation of our success in the luxury real estate development sector.”

DAMAC Properties is engaged in delivering residential, commercial and leisure properties across the region, including the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, and Oman, as well as the UK.

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DAMAC Properties awards contract for Zada project in UAE. (Credit: DAMAC)