Arabtec wins enormous $283m Aramco villa project

Deal is for 380 villas and the project in Al Dhahran is due to be completed within 28 months

Arabtec
Arabtec

Dubai construction giant Arabtec has sealed a $283m (AED1.04m) deal with Saudi Aramco to build 380 villas in Al Dhahran.

In a statement to the Dubai bourse, Arabtec said that the project would be completed over a 28 month period and would cover the design, construction, completion and maintenance of the villas and associated external work.

The villas will be built on a 454,500m2 plot with a total built-up area of 166,200m2.

Arabtec last month secured a number of deals totalling $235m (AED930m) through its oil and gas sector subsidiary Target.

Target will deliver seven projects for Saudi Aramco - the biggest of which is a project to improve a liquefied petroleum drain in the Abqiq refinery worth $74m (AED272m). It also landed a project to reduce water content in a liquefied gas station at Aramco's Shadqam and Al Othmania plants worth $64m (AED235m).

A third major deal involved expanding liquefied gas facilities at Aramco's giant Yanbu refinery, which is valued at $37.3m (AED137m), while a fourth will see two new buildings constructed at its Ras Tanura terminal at a cost of $32m (AED117m).

 

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