Monday, August 4, 2008

Arabtec's villa portfolio rises to 10,000 with Dh1.6b deal

Arabtec Construction currently has about 10,000 villas under construction, following a Dh1.6 billion letter of acceptance from Emaar-Bawadi Joint Venture to design and construct 1,437 villas as part of the Bawadi project in Dubailand.

The project will be delivered in phases over 37 months.

Arabtec is one of the largest construction companies in the Gulf.

The villas currently under construction include 3,230 for Mohammad Bin Rashid Housing Establishment, 1,515 for Nakheel's Al Furjan project and 1,262 villas for Emaar.

Arabtec is also constructing in Dubai Silicon Oasis and the Sanctuary Falls project in Dubai.

Arabtec last week signed a Dh599 million agreement with Emaar to build 550 townhouses in the 3.4 million square foot Warsan development near Al Awir road.