Dubai, UAE – 31 December 2018: Arabtec Holding PJSC (Arabtec or Group), a leading contractor for social and economic infrastructure, today announced that its wholly-owned subsidiary Arabtec Construction has been awarded contracts with a cumulative value of AED 353 million by DAMAC Properties. The contracts are for the construction works at two luxury residential towers, Rěva Residences and Věra Residences.
Both towers are located adjacent to each other in Business Bay and overlook the Dubai Water Canal, Dubai’s newest waterfront district. Their strategic location places them in close proximity to popular neighbourhoods and tourist attractions, including the Downtown Dubai district and up-scale communities along the Sheikh Zayed Road.
The projects comprise the construction of 125,178 square metres of luxury apartments across the two residential towers of 30 storeys each. The contract works will commence immediately with a construction period of 25 months.
Group Chief Executive Officer, Mr. Hamish Tyrwhitt commented: ‘We are delighted to have been awarded another project by DAMAC Properties. The onboarding of repeat business from our clients is testament to the strength of our relationships and our commitment to delivering projects in our core competencies and core markets.’