Dubai-based holding company Bright Start has purchased a stake in the local Dubai Contracting Company (DCC) from private equity firm Amwal AlKhaleej.
DCC’s portfolio of completed projects includes the World Trade Centre Residences, the Abu Dhabi Commercial Bank headquarters and Capricorn Tower.
Its current projects include the Rolex Tower on Sheikh Zayed road, the Fairmont Hotel on the Palm Jumeirah, a residential tower at Dubai Marina and an office tower at the Meydan racecourse development (MEED 25:8:08).
Amwal AlKhaleej bought its 49 per cent stake in DCC in November 2007. It is not clear how much of this has now been sold on to Bright Start.
Prior to that DCC had been talks with Arabtec Holding, the parent company of the local Arabtec Construction, about a possible acquisition.
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