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

 

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Sum of Net Project Value ($m) Industry            
Country Name Construction Transport Gas Industrial Power Water Grand Total
UAE 1287 707   76   14 2084
Kuwait 10   2930       2940
Qatar 151           151
Egypt 140 1156     250 250 1796
Saudi Arabia 1515   1040   110   2665
Oman 45       150   195
Bahrain         3   3
Iran   3000         3000
Grand Total 3148 4863 3970 76 513 264 12834
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