Arabtec wins $56m contract to build 322 Villanova homes in Dubai
Dubai Properties' Amaranta villas contract to Arabtec Construction will span 20 months, listed contracting giant says
Dubai Financial Market-listed UAE contracting giant Arabtec Holding announced that its wholly owned subsidiary Arabtec Construction had been picked to build 322 villas for the Amaranta phase of Dubai Properties’ Villanova project under a $56.3m (AED207m) deal.
Contract work will commence immediately, Arabtec said in a statement, adding that its activities would span 20 months.
A residential community in Dubailand, Villanova offers three-, four-, and five-bedroom villas and townhouses inspired by Spanish architecture.
According to a listing by developer Dubai Properties, Villanova includes the La Quinta and Amaranta neighbourhoods, the latter of which is sold out.
Arabtec’s contract for Villanova follows a $279m (AED1.02bn) deal it announced in December 2017 for the Amaranta and La Quinta phases of the residential project.
Arabtec Construction was awarded the building contract, while Arabtec Holding’s mechanical, electrical, and plumbing subsidiary Emirates Falcon Electromechanical Co, also known as Efeco, also picked to work on the project.
In December 2018, Arabtec Construction was picked under another $60.4m (AED222m) deal to build 352 villas within Villanova.
Arabtec said in its statement that the façades for each of its latest townhouses were “inspired by contemporary Mediterranean architecture”.
Commenting on the contract win, Arabtec Holding’s acting chief executive officer, Peter Pollard, said: “The award to Arabtec Construction of our sixth phase at the Villanova development strengthens our longstanding relationship with Dubai Properties and further builds on our portfolio of projects and reputation for delivering high quality residential villas.”
Pollard was named acting GCEO after Arabtec Holding announced in a Dubai bourse missive last week that Hamish Tyrwhitt had stepped down from the post.