Arabtec wins $60m contract to build Dubai Properties' Villanova homes
Work by Arabtec Construction will start immediately and last 20 months
The construction subsidiary of Dubai-listed Arabtec Holding has won $60.4m (AED222m) contract to build 352 villas at Dubai Properties’ Villanova master development in Dubailand.
Arabtec Construction's work under the contract will start immediately and will last 20 months, the group said in a statement on Dubai Financial Market.
The façade design of each of the townhouses in Villanova's Amaranta phase is inspired by contemporary Mediterranean architecture. All units interiors feature bright natural colours, which the Arabtec subsidiary said complements "a relaxed lifestyle”.
Located in Dubailand, Dubai Proprties’ Villanova master development is located at the intersection of the Dubai-Al Ain Road with Emirates Road.
Contracting giant Arabtec has an established history with the Villanova. In a bourse missive at the end of December 2017, Arabtec Construction announced a $279m (AED1.02bn) contract to build villas and townhouses in the project’s Amaranta and La Quinta phases.
Speaking on the subsidiary’s latest win, Hamish Tyrwhitt, group chief executive officer of Arabtec Holding, said: “We are delighted that Dubai Properties continue to show confidence in Arabtec Construction through the award of our fifth phase at the Villanova project, further building on our solid relationships in our core markets.”
Dubai Properties announced the launch of La Quinta, Villanova’s second phase, in January 2017. The three-, four-, five-, and five plus-bedroom independent La Quinta villas range in size from 204m2 to 359m2, offering families in Dubai the choice of larger villas, a growing segment in the market.
Villanova, made up of a cluster of homes and an array of standalone villas and apartments, was officially launched in October 2016.