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Arabtec in Dh22bn contract to build 37 new towers in Dubai and Abu Dhabi

Arabtec Holding is set to undertake its largest ever contract to build 37 towers in Abu Dhabi and Dubai at a cost of more than Dh22 billion.

The Burj Khalifa builder signed an initial agreement with Abu Dhabi’s Aabar for the mammoth undertaking.

“We will assign all construction work in Aabar’s US$20 billion real estate portfolio in the UAE, USA, Morocco, Jordan, Serbia and other countries to Arabtec,” said Khadem Al Qubaisi, chairman of Aabar Properties in a statement.

Arabtec is to construct the mixed-use, residential and hotel towers in Abu Dhabi and Dubai, including nine mixed-use towers in the Tomouh City of Lights development in Abu Dhabi, with a total plot area of 900,000 sq ft and a built area of 14,000,000 sq ft.

It will build another four mixed-use towers in Reem Island development.

The project includes a five-star hotel under the management of “Hard Rock International” on the Abu Dhabi Corniche, with a total plot area of 18,858 sq ft.

The hotel will be the first Hard Rock Hotel in the region.

In Dubai, Arabtec will build three mixed-use towers in Business Bay, and six new hotels and serviced apartment towers in Aljaddaf district, adjacent to the Culture Village development, the contractor said.

These include a 5 star hotel to be managed by Swissotel, a 4 star hotel managed by Hilton, a 3 star hotel managed by Park Inn, as well as three serviced apartment buildings to be operated by Fraser Suites.

Residential construction plans include fourteen towers: two in Rawdhat Abu Dhabi, seven in Al Raha Beach, three in Maysan and two in Shams.

business@thenational.ae


Read more: http://www.thenational.ae/business/property/20140202/arabtec-to-undertake-dh22bn-contract-to-build-37-new-towers-in-dubai-and-abu-dhabi#ixzz2sAVzfoje 
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