Home›Procurement News›United Arab Emirates : ARABTEC CONSTRUCTION bags AED 2.59 billion construction contract
Procurement And Tender News
Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.
United Arab Emirates : ARABTEC CONSTRUCTION bags AED 2.59 billion construction contract
Publish Date : 16-Jan-2014
Arabtec Holding PJSC's subsidiary, Arabtec Construction, has received an AED 2.59 billion contract to construct a mixed-use development in Al Reem Island, Abu Dhabi.
Development of the project will be on a plot area of 32,000 m2 which forms part of Al Reem Island and a built up area of over 350,000 square meters. The project will feature a 61-storey residential tower, with 613 furnished apartments and 15 storey C-shaped tower with a five star hotel offering 400 guest rooms and 200 serviced apartments.
Both the towers will be connected by a ballroom and retail block of 4,600 sq.m in area. Additionally, the project will feature 3,275 sq.m food and beverage space and 3,795 sq.m function space.
Hasan Abdullah Ismaik, Managing Director and CEO of Arabtec Holding, said, "We are proud to continue our long-time contribution to the urban development of Abu Dhabi. Arabtec has been actively involved in delivering a host of infrastructural, tourist and cultural projects that constitute some of the major components of Abu Dhabi's urban evolution as envisaged in Plan Abu Dhabi 2030."
"This is the first glad tidings of the new year. And there are many on the way. These will be announced in due course. We are confident that 2014 will be a special year not only in terms of new awards but also with regard to the progress of implementation of our growth strategy and the striking of more local and international partnerships to take Arabtec to higher levels of success."
The project is designed by the Architecture and Planning Group. Commencement of construction is expected during the first quarter of 2014 and its completion will take around 36 months.
