Arabtec's top 5 contract wins of H1 2017
After recording $1.14bn (AED4.2bn) in revenues during the first half of this year, Construction Week takes a look at Arabtec's biggest contract wins of 2017 so far
1. Arabtec scoops $398m main contract for Wasl Tower
Wasl Asset Management awarded a $398m (AED1.46bn) main contract for Wasl Tower to Arabtec Construction in May 2017.
Located on Dubai’s Sheikh Zayed Road, Wasl Tower is a 63-storey mixed-use skyscraper that will feature office spaces and residential units.
The news comes just weeks after Arabtec Holding, Arabtec Construction’s parent company, recorded its first profit in nine consecutive quarters.
In a statement issued to Dubai Financial Market (DFM), Hamish Tyrwhitt, group chief executive officer of Arabtec Holding, said: “The long-term outlook for the construction and engineering sector in our key geographic markets remains positive, especially in the UAE, where the majority of our projects are located."
2. Arabtec wins $171m Akoya homes contract from Damac
Damac Properties awarded Arabtec Construction a $171m (AED628m) contract to develop 1,296 villas at its Akoya Oxygen master development in early August.
Arabtec will begin construction this quarter at the 511ha development in Dubailand.
Work is expected to be completed within 24 months.
3. Arabtec wins $99m contract for new mall in Dubai South
Arabtec was awarded a $98.8m (AED363m) contract to build a new mall in Dubai South, a 145km2 development in Dubai, in August.
The mall will be built at the Emaar South project, a joint venture between Emaar Properties and Dubai South.
Emaar South plans to build more than 15,000 homes in its development that will include the new mall, hotels, community parks, schools and other facilities.
Arabtec said that the mall will have 83,000m2 built-up area over three levels.
Work is set to start on site this August, according to a press statement.
4. Arabtec scoops $96m contract to build UAE Pavilion for Expo 2020
Arabtec Construction, a wholly owned subsidiary of UAE-based Arabtec Holding, was awarded a $96m (AED353m) contract to build the UAE Pavilion for Expo 2020 Dubai in July.
The contract was awarded by Abu Dhabi National Media Council (Abu Dhabi NMC), according to a statement issued by Arabtec Holding to Dubai Financial Market (DFM).
The UAE Pavilion has been designed by Spanish architect Santiago Calatrava to resemble a falcon in flight.
The project will be situated opposite Al Wasl Plaza in the centre of Expo 2020’s 4.38km2 exhibition area.
5. Arabtec Holding’s Target lands contracts worth $78.7m in UAE
Target Engineering Construction Company, a wholly owned subsidiary of Arabtec Holding, won four contracts worth a combined $78.7m (AED289m) in the UAE in July.
Three of the projects are located in the Emirate of Abu Dhabi, and one is situated in Dubai’s Business Bay area.
Target’s Abu Dhabi contract awards include a cofferdam removal and revetment construction project in the Western Region; the fabrication and installation of duplex stainless steel process tanks in Taweelah; and engineering, procurement, and construction (EPC) works for the upgradation and replacement of a substation on Das Island.
The Business Bay deal relates to an “award-winning high-rise development”, according to a missive issued by Arabtec Holding to Dubai Financial Market (DFM).