UAE: Arabtec wins $462m contract for 1,100 villas
Construction will commence imminently with an expected duration of approximately 2.5 years
UAE based contractor, Arabtec Holding announced that its subsidiary, Arabtec Construction, has been awarded a $462m (AED1.7bn) project to build 1,100 villas for UAE nationals in Mohammed Bin Zayed City, Fujairah.
This important project comprises a total built up area of 430,000 sqm on a plot area of 215ha.
Construction will commence imminently with an expected duration of approximately 2.5 years, according to the statement on Dubai bourse.
Eng. Saeed Mohamed Al Mehairbi, acting CEO of Arabtec Holding stated: "We are proud that the Ministry of Presidential Affairs has chosen Arabtec to execute this project of national importance."
The $380m 2.2km2 city will comprise 1,100 residential units, and will include schools, mosques, clinics, parks, shopping malls and a community centre.
The residential section will encompass 300 five-room villas, 700 four-room villas, and 100 villas for widows or small families.
The city is being built to offer nationals affordable homes and better living conditions under instruction from the President, H H Shaikh Khalifa bin Zayed Al Nahyan, and the General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to improve Emiratis' lifestyles.