Damac Properties has awarded another construction contract worth AED 424 million to Arabtec to build additional villas in Akoya Oxygen. EFECO (Emirates Falcon Electromechanical Co), a subsidiary of Arabtec, will be carrying out the MEP works for the project. This is the second contract to be awarded to Arabtec in the last 12 months and will see it build another 916 villas. In August 2017, Arabtec was awarded a AED 628 million contract to build 1,296 villas at the same master development. In October 2017, Damac awarded further contracts for roads and main works construction for AED 350 million, bringing the total value of contracts awarded for Akoya Oxygen since August 2017 to AED 1.4 billion.