The local Arabtec Construction has signed a memorandum of understanding with Abu Dhabi’s Tourism Development & Investment Company (TDIC) for the development of phase one of the Saadiyat Beach Residences project on Saadiyat island, adjacent to Abu Dhabi city.
The two parties say the 30-month design and build contract, which covers all associated infrastructure works, is expected to top AED2bn ($540m).
The scope of works covers a series of three to eight-bedroom villas across seven gated communities on the island.
TDIC is the overall developer of Saadiyat, which aims to become a world-class cultural centre. Branches of the Louvre and Guggenheim museums are set to be located on the island.
In 2007 TDIC formed a partnership with Gulf Leighton to undertake contracting for civil engineering and infrastructure projects, along with project and construction management and facilities management services for TDIC (MEED 9:1:08).
In April Gulf Leighton was awarded a major contract to build a tourist village on Saadiyat (MEED 30:4:08).
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