Arabtec wins $705m Al Reem contract
Abu Dhabi, January 14, 2014
Arabtec Construction, a subsidiary of Arabtec Holding, has been awarded a Dh2.59 billion ($705 million) contract for the construction of a mixed-use development in Al Reem Island, Abu Dhabi.
Dubai-based Arabtec Holding is a leading engineering and construction Group specialising in complex projects in the Middle East and North Africa region.
The project, to be constructed on a plot area of 32,000 sq m as part of Al Reem Island, and a built up area of around 350,000 sq m, will house a 61-storey residential tower, featuring 613 furnished apartments and another 15-storey C-shaped tower that will host a five-star hotel offering 400 guest rooms and 200 serviced apartments.
The two towers will be connected by a ballroom and retail block extending 4,600 sq m in area. The development will also have 3,275 sq m food and beverage space and 3,795 sq m function space, a statement said.
Negotiations are under way with a number of world-leading hospitality brands for the management of the hotel and serviced apartments, it added. - TradeArabia News Service