Arabtec awarded $463m villa contract

20 March 2016

The project will be developed in Mohamed Bin Zayed City in Fujeirah

Dubai-listed Arabtec Holding has been awarded a AED1.7bn ($463m) contract to construct 1,100 villas in Fujairah, according to a company statement on the Dubai Financial Markets (DFM).

The contract, which was awarded by the Ministry of Presidential Affairs, will see Arabtec Construction construct a built-up area of 430,000 square metres to be completed in approximately 18 months, said the statement.

The project will be developed in Mohammed bin Zayed City in Fujairah and will be exclusively for Emirati nationals.

Earlier in March, Arabtec was awarded a $300m contract for work on two towers in Dubai. The contract involves the construction of two 50-storey towers with a total area of approximately 227,800 sq m.

Construction on the towers, which is expected to start imminently, will last approximately 18 months.

Villas are an opportunity for Arabtec to trade out of trouble

Dubai real estate

Dubai real estate

Dubai-listed construction firm has a strong track record and specialist technology Read More

 

 See more contract awards

Sum of Net Project Value ($m)Industry      
Country NameConstructionTransportGasIndustrialPowerWaterGrand Total
UAE1287707 76 142084
Kuwait10 2930   2940
Qatar151     151
Egypt1401156  2502501796
Saudi Arabia1515 1040 110 2665
Oman45   150 195
Bahrain    3 3
Iran 3000    3000
Grand Total3148486339707651326412834
For more information visit MEED Projects http://www.meedprojects.com/home     

 

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