Arabtec unit wins $282m Emaar contract
Dubai, March 5, 2014
A subsidiary of Dubai builder Arabtec Holding has won a 1.04 billion dirham ($282.33 million) contract to build over 1,500 townhouses for developer Emaar Properties, Arabtec said on Wednesday.
The subsidiary, Arabtec Construction, will begin work on the project in the first quarter of 2014 and the project will be delivered in 24 months, it said in a statement.
The 1,582 townhouses are part of the Mira community, the first phase of Reem, which was launched to strong customer response. The villas come in four different types, covering a total built area of 337,805 sq m. The villa community is designed by BH.NS Engineering Consultant.
Hasan Abdullah Ismaik, managing director and CEO of Arabtec Holding, said: “We are pleased to continue our long-time cooperation with Emaar and our mutual contribution to the urban development of the UAE. This project adds further momentum to an already strong start of the year. The volume of contract wins we have bagged so far promises to take our backlog to unprecedented heights.”
Located near Arabian Ranches at the crossroads of Al Qudra Road and Emirates Road, Reem is one of the most sought-after communities in Dubai. It features several exotic features including a desert botanical park, sand surfing and camel riding trails, go karting track, dune buggies, rock climbing wall, cricket pitch, soccer field, and a skate park. The development is anchored by a majestic central park with interactive fountains, walkways and a captivating water feature.
Arabtec was engaged in the construction of a number of Emaar’s iconic projects, including Burj Khalifa, the world’s tallest building, The Address Downtown Dubai, Emirates Hills, and the luxury Polo Homes in Arabian Ranches, among others. - TradeArabia News Service & Reuters