|01-25-2015, 10:19 PM||#1|
Arabtec wins two more contracts
Dubai`s Arabtec won two contracts in Abu Dhabi worth 560 million to expand on one hand this year a housing complex in Ruwais, near Abu Dhabi, to Target.
On the other hand it was awarded a a 215 million dirham contract to Target to build a new management building and a civil defence station.
Both contracts are to be completed by February 2016.
Arabtec is considered the largest construction company in the whole Gulf region by market value and is behind the largest mega projects such as Burj Khalifa, Terminal 1 of Dubai International Airport and Dubai World Central International Airport.
Also last year Arabtec finalized accords with the Egyptian government to build one million residential units over five years on 13 plots of land that are currently owned by the Egyptian armed forces.
The first homes are projected to be delivered in early 2017, with the whole project to be completed before 2020.
Analysts predict Arabtec to record a remarkable growth during the upcoming years, as the company is currently working on a number of projects that will probably yield high revenues.
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