Arabtec wins $279 mln contract from Dubai Properties

28/12/2017 Argaam

 

Arabtec Construction, the wholly owned subsidiary of Dubai-based contractor Arabtec Holding, has been awarded a $279 million (AED1.025 billion) contract from Dubai Properties for Villanova Amaranta and La Quinta Phases, it said in a statement to Dubai Financial Market on Thursday.

 

The project involves the construction works for a residential community that includes villas and townhouses.

 

Emirates Falcon Electromechanical Company, another wholly owned subsidiary of Arabtec Holding, will be carrying out the MEP works for the project, the statement said.

 

In November, Arabtec reported a net profit of AED 17.8 million for the third quarter 2017 compared with a loss of AED 225.5 million in the same period last year.

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