Dubai's Arabtec has been awarded a Dh1.04 billion ($283.16 million) contract from Saudi Aramco to build 380 villas in Saudi Arabia, the contractor said on Tuesday.
Arabtec, which this week put four of its five Saudi subsidiari
Dubai's Arabtec plans to sell four of its five Saudi Arabian units, according to the builder's annual results which also state that one of its main aims this year is to expand its activities in the kingdom.
The board of Ar
UAE-based Arabtec, a leading construction firm, on Sunday reported a net profit of Dh241.6 million ($65.7 million) for full-year 2014 versus Dh468.3 million ($127.4 million) in the previous year, marking a decrease of 48.4 per cent.
Egypt's housing ministry and Dubai's Arabtec have agreed some of the terms for a $40-billion project to build one million homes across the country, and they will sign a final contract within 10 days, a ministry spokeswoman said on Tuesda
Egypt's housing minister said that talks with Dubai-listed Arabtec are continuing and that he hopes to reach a final deal on a plan to build a million homes before a March 13 to 15 investment conference in Sharm El-Sheikh.
Arabtec's chairman will meet officials of Egypt's housing ministry on Wednesday to renegotiate the terms of a $40 billion plan to build one million homes in that country, a source familiar with the matter said.
UAE-based builder Arabtec will start signing up Egyptian companies for its ambitious residential project that will see the development of one million housing units across the country, said a report.
The work on the first phase of
UAE-based builder Arabtec said a wholly-owned subsidiary had won Dh930 million ($253 million) of contracts in Saudi Arabia's oil and gas industry.
The projects include upgrading liquefied gas and refinery facilities for nation
Dubai builder Arabtec Holding said on Tuesday it had won two contracts worth Dh375 million ($102 million) from developer Emaar Properties.
Both contracts are for construction of residential villas in Dubai to be delivered in 2016,
A subsidiary of Aabar Investments has received regulatory approval to buy a further 100 million shares in Arabtec, strengthening the Abu Dhabi state-run fund's hold on the Dubai-listed builder, according to a bourse filing on Monday.