DAMAC appoints 'Intermass' as main contractor for LAGO VISTA project at IMPZ

This over one million sq.ft, project will be completed by September 2009.

Intermass is one of the most renowned contractors in the UAE and they have been associated with several dazzling landmarks in the country.

"Intermass is a leader in the engineering and construction industry in the country today and their appointment as main contractors is due to our faith in the quality of their work. We have no doubt that they will deliver a product that offers state-of-the-art luxury and comfort to the residents at LAGO VISTA", said Peter Riddoch, CEO at DAMAC Properties.

"As of today all the excavation of raft foundations and shoring with main road are completed. This project at IMPZ will be built with highest construction standards offering the latest in living standards," added Mr. Riddoch.

Situated on the Emirates Road, the IMPZ is in close proximity to the Jebel Ali Port and the Jebel Ali Airport City, a unique free zone incorporating a vast array of residential, industrial, commercial and community service projects. The project's prestigious location - IMPZ - extends a sophisticated lifestyle with unique facilities including in-campus transportation, medical centre, schools, hotels, shopping centres, restaurants, amphitheatre, sports grounds and full-fledged fitness clubs.

LAGO VISTA, spread across 1,008,718 sq. ft. comes with a mixture of 696 studios, 36 one bedroom and 264 two bedroom luxurious apartments and retail on the ground level. The project comes with a full range of leisure facilities including health club, gym, sauna, steam, spa baths, tennis courts, children playground including a barbeque area. This project includes two towers with 21 floors and the third with 24.

'The property sector in Dubai and the region is growing at a tremendous pace and it is important that we keep up with the demand for luxury apartments. Our ongoing dedication to innovate, and develop unique residential projects such as this one, drives us to provide our customers with the luxury lifestyle that has become the trademark of DAMAC over the years; a perception that we are extremely proud of and committed to maintain', concluded Mr. Riddoch.

Furthermore, DAMAC Properties recently won three prestigious awards at the CNBC Arabian Property Awards 2006. Property developer bagged the best development award for 'Oceanscape', best architecture award for 'Ocean Heights 2' and the best website award for the company's website - www.damacproperties.com. In December 2006, the company also won the IREF ME award for the best residential development in the UAE.

DAMAC Holding has now grown into a global conglomerate with more than 7000 employees in 18 countries. Being the first private sector company to make a commitment to Dubai's real estate market, DAMAC Properties has become the market leader with a strong sales record to its credit.