Arabtec wins $66m Emaar villas project
Dubai, May 5, 2013
Arabtec Construction, a leading Mena construction company, has clinched a Dh243 million ($66.1 million) contract from top developer Emaar for the construction of 253 residential villas at its upcoming “Casa” project in the Arabian Ranches 2 development in Dubai.
The Casa project will occupy an overall plot area of 132,000 sq m, providing a total built area of 77,000 sq m. It encompasses three and four-bedroom Moroccan-style luxury villas, and is expected to take up to 16 months to complete, said a statement from Arabtec.
The construction is scheduled to begin in the second quarter, it added.
On the win, Hasan Abdullah Ismaik, the managing director and CEO of Arabtec said, "We are pleased to extend our successful relationship with Emaar Properties, which demonstrates the long-term partnership of two of the leading listed UAE companies at the heart of the nation’s real estate sector."
"This is an important contract for Arabtec because it is further evidence of the strong relationships we have with the region’s top real estate developers. We are very proud that over 60 per cent of the contracts we win come from our existing clients, which endorses the high quality of Arabtec’s delivery," he added.-TradeArabia News Service
More Construction & Real Estate Stories
- Plaza Premium wins Abu Dhabi Airports contract
- Engineering experts attend Autodesk conference
- Dubai $114m freehold property in big demand
- Heavy Equipment enters Qatar market
- Bahrain market to get $15.8m facelift
- Jacky’s unveils new 3D printers
- Technip wins $400m Kuwait PMC contract
- Arab investors eyeing Turkish property
- Arabtec denies Drake merger speculation
- Saudi's ACWA signs $472m sukuk financing