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Arabtec wins $193m Dubai tower contract

Arabtec Holding, the biggest construction company in the UAE, said on Sunday it had won a building contract valued at AED710 million ($193 million) to build the first stage of an 80-storey tower comprising a five-star hotel.

The Dubai-based company’s Arabtec Construction unit received a “letter of award” from Tasameem Real Estate Co, of Abu Dhabi to build “P17 Tower” on Sheikh Zayed Road, Dubai, according to an company statement posted on the Dubai Financial Market website.

It said the project would take 38 months to complete, adding that the tower had been designed by Atkins and comprised 80 floors, including a luxury hotel, furnished apartments, offices and a health club. Last week, Arabtec Construction announced it had won a $190m contract to build the Bridge Towers office and hotel project at West Bay, Doha in Qatar.

The project comprises two buildings, one with 45 floors of office space and a 45-storey five star hotel.

Source - www.arabianbusiness.com