DAMAC Properties Announces ‘AYKON City’
A First on Dubai Canal and Sheikh Zayed Road
DAMAC Properties Chairman Hussain Sajwani announces launch of another Dubai icon and one of Dubai's largest real estate projects on the Sheikh Zayed road overlooking the Dubai Canal
DAMAC Properties Chairman Hussain Sajwani announces launch of another Dubai icon and one of Dubai's largest real estate projects on the Sheikh Zayed road overlooking the Dubai Canal
Dubai, United Arab Emirates -- DAMAC Properties has announced a major new project, destined to become another icon of Dubai's real estate landscape.
'AYKON City' is a six tower luxury project comprising Dubai's first all-suites, 80 storey AYKON Hotel and Residences, a 63 storey DAMAC Maison Serviced Hotel Residences, a 60 storey apartment tower, a 65 storey office tower and two c. 30 floor ultra-luxury residential towers featuring state-of-the-art car lifts to each unit and direct views over Dubai Canal and Safa Park. Limited release of the serviced residences go on immediate sale with further releases in due course.
'AYKON City' is a 4 million sq ft development, located on the eastern and western sides of Sheikh Zayed road at the Safa Park intersection and in close proximity to the Dubai Canal. It will join other iconic developments in the golden quadrant of the business district of the city such as City Walk, the Burj Khalifa, Emirates Towers and the Dubai International Financial Centre district (DIFC).
This project will also feature the 'AYKON Dare', an addition to Dubai's tourist attractions; an adrenaline experience on the 80th floor of the Hotel where guests get to walk around the outside of the tower's roof for a real adventure and with magnificent views of the city. For the less adventurous, 'AYKON City' will also consist of the 'AYKON Plaza' with swimming pools, Spa, beach club, cafés, restaurants, Yoga and Tai-chi areas, and private members club.
The project sales value is AED 7.4 billion and construction is due to commence before this summer with a completion date of 2021.
Hussain Sajwani, Chairman of DAMAC 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".
"We would like to thank Meraas Holding for their belief in our luxury developments and look forward to creating a unique and memorable environment."
He added: "AYKON City is testament to our solid commitment and belief in Dubai's strong economy and especially in the future of the real estate sector. The prosperity of the UAE and this vibrant metropolitan city is the reflection of the wise policies of our leaders and our government headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai who, with his vision about our society, reiterated during the latest World Government Summit, is paving the way for clear and innovative thinking and development within the city".
As of 31st December 2015, DAMAC Properties has delivered over 15,500 homes and has a development portfolio of over 40,000 units at various stages of progress and planning. Included are more than 13,000 hotel rooms and serviced hotel apartments, which will be managed by its hospitality arm, DAMAC Hotels & Resorts.
About DAMAC Properties
DAMAC Properties has been at the forefront of the Middle East's luxury real estate market since 2002, delivering award-winning residential, commercial and leisure properties across the region, including the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Iraq, the Maldives, Canada, the United States and the United Kingdom. The company has delivered 42,000 homes. Joining forces with some of the world's most eminent fashion and lifestyle brands, DAMAC has brought new and exciting living concepts to the market in collaborations that include a golf course by The Trump Organization, and luxury homes in association with Versace, Cavalli, Just Cavalli, de GRISOGONO, Zuhair Murad, Paramount Hotels & Resorts, Rotana and Radisson Hotel Group. With a consistent vision, and strong momentum, DAMAC Properties is building the next generation of Middle Eastern luxury living. DAMAC places a great emphasis on social responsibility. In June, DAMAC Group signed an MoU with Knowledge Fund to support the Dubai Schools project by providing scholarship funding worth AED 20 million for Emirati students' tuition fees starting in the 2022-2023 academic year. The agreement aims to help achieve the objectives of Dubai Schools, which include providing a state-of-the-art educational experience for a new generation of students to keep pace with the ever-evolving requirements of the future job market. Additionally, the Hussain Sajwani-DAMAC Foundation was part of the 'Fresh Slate' initiative in collaboration with the Dubai Police General Headquarters aimed at aiding detainees in Dubai's Punitive and Correctional Institutions who have been charged with petty offenses. HSDF has pledged Dh5 million for the 1 Billion Meals initiative launched by Vice President and Prime Minister of the UAE, and Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum at the start of Ramadan 2022, aimed at providing meals to underprivileged communities in 50 countries across the world. DAMAC also supported the vision of Sheikh Mohammed to train one million Arab coders in creating an empowered society through learning and skills development, an initiative that successfully wrapped up in May 2022. Visit us at www.damacproperties.com.
Media Contact
Niall McLoughlin
Senior Vice President - Corporate Communications, DAMAC. [email protected] +971 4 3731000