Damac Properties, a Dubai-listed developer has issued 25 construction contracts valued at a combined AED3bn ($817.4m) in the first six months of 2016.

The contracts include the main packages for more than 2,678 villas at the Akoya Oxygen master-development as well as the main package for the Golf apartment buildings at Carson - The Drive at Akoya, according to a statement.

In Akoya Oxygen, the golf course design is completed and “we are making progress in the selection of the Golf course main contractor,” Damac’s managing director Ziad El Chaar said.

The design of several clusters has already been completed for the development and Damac has appointed main contractors. The work has already started at several locations, he said adding that in Akoya by Damac, the Golf course is finished and the handover of approximately 766 villas is imminent.

Damac as of end of first quarter of this year, has delivered more than 15,800 homes, including approximately 2,000 hotel units.

The company, which reported 15 per cent drop in the first quarter income, in February, launched a new mixed-use scheme with six towers at Dubai Canal called Aykon City.

It will comprise an 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 30-floor ultra-luxury residential towers, according to the statement from the company.

The project sales value is AED7.4bn and construction is due to start before the second half of the year, with a completion date of 2021.