Arabtec to build thousands of new villas

03.02.2015
The contract wins are Arabtec’s second major new business awards since former managing director Hasan Ismaik left the company last year.

Arabtec has been awarded two contracts worth a total of AED375 million from Emaar Properties, The National reported. 

Arabtec said that its Arabtec Construction subsidiary had won a Dh209m contract to build town houses at Emaar’s Al Mira Residences in Dubai by May next year.

A company spokesman said that the new contract was separate from the AED1 billion contract that Arabtec and Emaar announced in March to build 1,582 town houses at the Mira community, the first phase of Emaar’s master development Reem.

It also said it had won a AED166m contract to build more villas at Emaar’s nearby Arabian Ranches extension by March next year.

The two contract wins are Arabtec’s second major new business awards since former managing director Hasan Ismaik left the company last year.


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