AYKON City on Sheikh, will receive a tower that will be constructed by the master development company, DAMAC Properties. They were awarded the tender to construct the tower which will include a ground floor, three basements, and ten podium levels. The tower will also include an entertainment and dedicated lifestyle level, and forty nine residential floors, along with the rood top. The piling work has already been completed on the tower, and the next phase, the tendering stage, will begin in May. DAMAC was awarded a contract to China State Construction Engineering Corporation to construct the tower at AYKON City. This was an AED $600 million dollar deal.
AYKON City is a most prosperous master development of DAMAC, and is located in Dubai in the United Arab Emirates. The new tower will be like a city within a city. There will be residences, apartments, office spaces, and a hotel inside the tower. It will offer a view of the Dubai Canal, and the new AYKON Plaza will be the lifestyle and entertainment venue. The entire community will have access to the new swimming pool, beach club, spa, cafes, restaurants, health and fitness areas, and exclusive to residents only is a private recreation area which will be called The Club.
DAMAC Properties was Founded by the Emirati billionaire, Hussain Sajwani. He is the owner, the Chief Executive Officer, and Chairman of Real Estate Development. Hussain Sajwani was born in 1952, the son of a retail entrepreneur. He was the first student to be sent to the United States on a government scholarship from his country. Hussain attended the University of Washington where he received a Bachelors Degree in Industrial Engineering, and Economics. after several early career ventures, the DAMAC CEO started DAMAC Properties in 2002, and has led the company to become the leading property development company in the Middle East. DAMAC Properties became a part of the DAMAC Group which the CEO formed in 1992. DAMAC Properties has completed numerous projects which includes commercial, residential, and mixed use structures. The company has built from Dubai, Qatar, to the Kingdom of Saudi Arabia.