Dubai developer seeks to expand into three new countries this year
Dubai-based Arabtec Holding plans to launch operations in three new territories in 2014, as it continues to expand globally, according to Sami Haidar Asad, CEO of Arabtec Construction.
Speaking at MEEDs Destination Dubai 2020 conference held in Dubai on 28 January, Asad said the company currently operates in 11 countries across the Middle East and Asia.
Last week, Arabtec announced plans to open a regional headquarters in Belgrade, Serbia, which will serve as a launch pad for the firms planned expansion into the countries of the wider Balkan region.
Also in the past week, Arabtec won a AED5.7bn ($1.6bn) contract for the construction of Jordans first themed tourist destination, the Red Sea Astrarium.
Asad said the company now has a backlog of about AED33bn, and expects Dubais winning bid for the Expo 2020 to increase demand for schemes across the wider region, not just in the emirate.
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