Arabtec wins Tiara Hotel deal
Abu Dhabi, October 23, 2013
Arabtec Holding, a leading engineering and construction group, announced today that its subsidiary, Arabtec Construction, has been awarded a contract for construction of the final phase of Tiara Hotel on Palm Jumeirah.
The 332-room hotel project comprises two mixed use towers, including a dedicated 216-room hotel as well as 116 residential apartments. The earlier phases of the Dh550 million ($149.72 million) project were executed by Arabtec Construction, and work on the final phase, valued at Dh196 million, will begin in the 1st quarter of 2014 and is expected to take up to 18 months to complete.
Hasan Abdullah Ismaik, managing director and CEO of Arabtec Holding, commented: “This project is further addition to Arabtec’s high profile backlog of hospitality projects in the UAE and across the region. Arabtec’s appointment to build The Tiara Hotel project on Palm Jumeirah confirms our status as the contractor of choice for a wide range of hospitality projects and it further demonstrates our unique capabilities in delivering best-in-class mixed use developments.”
Ismaik added: “With scores of hotel projects already completed and six in progress, Arabtec stands out as a strong contributor to the development of world-class hospitality industry in the UAE and the Mena region at large.”
Designed by Dar Al Handasah (Shair and Partners), The Tiara Hotel is the latest addition to Arabtec’s hotel portfolio which includes Abu Dhabi’s iconic landmark: the seven-star Emirates Palace Hotel, as well as a host of towers for world-renowned hospiatlity brands. Recent contract awards in the UAE include the Fairmont Hotel Abu Dhabi and Serviced Apartments and a 5-star hotel and serviced apartments tower located in the Business Bay district of Dubai.
Arabtec is also leading the construction of a number of hospitality projects across the Middle East, including four international hotels managed by Jumeirah International and Starwood Hotels and Resorts World in Jordan’s Saraya Aqaba, and the Nile Towers, a 23-storey twin-tower project comprising a Hilton Hotel and luxury apartments in Cairo. - TradeArabia News Service
More Construction & Real Estate Stories
- India property group eyes Dubai market
- Kuwaiti real estate sales soar to $886m
- Emaar unveils first big project at Expo 2020 site
- EMart nets $20m from online auction
- Qatar Railways awards $32bn in contracts
- Top regional firms at Cityscape Riyadh
- Habtoor Leighton wins $395m Dubai tower deal
- Bahrain to scrap asphalt subsidies
- UAE bids to host 2018 tunnelling congress
- Bin Faqeeh top sponsor of Gulf Property Show