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February 3, 2014

Arabtec to construct 37 towers in Abu Dhabi and Dubai

Arabtec Construction has secured a AED22.44bn ($6.1bn) contract to design and build 37 towers in Abu Dhabi and Dubai.

By admin-demo

Arabtec Construction has secured a AED22.44bn ($6.1bn) contract to design and build 37 towers in Abu Dhabi and Dubai.

A memorandum of understanding (MoU) has been signed between Arabtec Holding and Aabar Properties, a subsidiary of Aabar Investments.

The 37 mixed-use, residential and hotel buildings will include nine towers in the Tomouh City of Lights development in Abu Dhabi and four towers in the Reem Island development.

Arabtec will also build 14 residential towers, including two in Rawdhat Abu Dhabi on a 64,673ft² plot, seven at Al Raha Beach on 1mft² plot, three in Maysan on 160,000ft² plot and two in Shams on a 200,000ft² plot.

The company will also construct a five-star hotel under the Hard Rock International brand at Abu Dhabi’s cornice, with a total plot area of 18,858ft².

In Dubai, Arabtec will construct three mixed-use towers in the Business Bay and six new hotels and serviced apartment towers in the Aljaddaf district.

The facilities will include a five-star hotel to be managed by Swissotel, a four-star hotel managed by Hilton and a three-star hotel managed by Park Inn.

The towers will occupy a total plot area of 300,000ft² and a built area of 3mft².

Construction work is due to start in the first quarter of this year and all projects are planned to be completed by 2020.

Arabtec and Aabar Properties are in the final stages of signing definitive agreements for the implementation of the projects.

Aabar Properties chairman HE Khadem Al Qubaisi said: "We will assign all construction work in Aabar’s $20bn real estate portfolio in the UAE, US, Morocco, Jordan, Serbia and other countries to Arabtec."

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