DAMAC Owner Ready to Build New Tower at AYKON City

DAMAC Owner Hussain Sajwani has issued tender in order to begin work on a second tower at AYKON City. This project, reportedly the most ambitious real estate endeavor ever undertaken by Sajwani and his Dubai based company, is a luxury residential property on Sheikh Zayed Road, which overlooks the Dubai Canal.

 

This second tower for AYKON City is expected to be 1.7 million square feet in size. It will feature 49 residential floors, a lifestyle and entertainment level, ten podium levels, and three basements. DAMAC Properties Senior Vice President – Commercial Mohammed Tahaineh said the site development is progressing at a rapid pace, with piling work having been completed. He added a new construction partner should be brought on board in May of 2018. DAMAC has already secured the services of China State Construction Engineering Corporation to build one of its towers at AYKON City.

 

DAMAC Owner Hussain Sajwani’s AYKON City luxury master development is planned for six towers, with a city like infrastructure within Dubai. Along with residential spaces, AYKON City also features a hotel and offices. The overall plan for the development envisions the AYKON Plaza, which will have beach clubs, restaurants, cafes, swimming pools, spas, and exercise areas. Since AYKON City was launched, it has won two awards; Best Hotel Architecture in Dubai and Best Mixed-Use Architecture Dubai – Highly Commended. Both awards were given out in 2016.

 

DAMAC Owner Hussain Sajwani started out in the catering business in 1983, and was awarded a contract to provide food services for U.S. forces during Operation Desert Storm. He later branched out into real estate, and in 2002 formed DAMAC Properties. Sajwani’s business has constructed 19,000 apartments and has 44,000 other units in development. In 2017, he was named to the Top 100 Most Globally Influential Arabs list by Gulf Business. He is also in Forbes Magazine’s Top Ten Billionaires in the Arab World.

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