Arabtec to build new hotel at Dubai Media City
DUBAI, October 6, 2016
Dubai-based construction firm Arabtec Holding has secured a contract for a new five-star hotel at Dubai Media City, said a report.
Arabtec - which also built the Burj Khalifa - first announced the contract win, valued at Dh340 million ($92.5 million), in its half-year financial results in August, The National reported.
At the time, the construction company also said it and its joint-venture partners had been awarded Dh9 billion ($2.4 billion) of construction contracts during the first half of this year.
These included the Dh3.7 billion ($1 billion) Modernisation Programme at Bahrain International Airport, a Dh1.7-billion ($462.7 million) contract to build 1,100 villas for Emiratis in Fujairah, a Dh500-million ($136 million) deal to build 500 villas in Oud Muteena in Dubai and a Dh1.1-billion ($299.4 million) contract for a twin-tower development in central Dubai.