Arabtec Holding wins $1.55bn Jordan contract

Company signs deal to build resort in Aqaba area

The Aqaba area of Jordan
The Aqaba area of Jordan

Dubai contractor Arabtec Holding said on Monday it had won a $1.55bn (AED5.7bn) contract to build a resort in the Aqaba area of southern Jordan.

The project, being developed by an international fund called Red Sea Astrarium LP, will involve a manmade lagoon, four hotels and entertainment facilities including a 4D cinema, a water park and a Star Trek-themed attraction, Arabtec said in a statement to the Dubai bourse.

Construction work on the resort, which is expected to create around 4,000 jobs when opened, will begin in the third quarter of this year, with a soft opening targeted for the third quarter of 2017, the statement added.

The news comes just days after Arabtec Construction was awarded a $705m (AED2.59bn) project to build a new, mixed-use development at Reem Island in Abu Dhabi.

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