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Arabtec wins Qatar, West Bank contracts worth AED740.7 million

2010-01-21

Emirates Business 24/7: Dubai-based construction contracting company Arabtec said it won contracts worth AED740.7 million in Qatar and the West Bank. Arabtec Construction Company has received a letter of award to build the Bridge Towers (Office and Hotel Towers) at West Bay, Doha, with a contract value of AED696m. The project comprises two buildings, with two basement levels, a ground level, three podium levels and 45-floor office tower and 45-floor five-star hotel tower.The works will include structural, civil, electro-mechanical and external works. The project duration is 30 months, said the statement. Arabtec Construction Company is a partnership between Arabtec Holding and Nasser bin Khaled Al Thani & Sons Holding Company. Arabtec Construction is currently executing Al Waab City Project in Doha. The project is a development on an area of more than 1.2 million square metres that integrates a variety of housing types, retail, offices and apartment buildings. In Palestine, Arabtec Construction and Al Mukawilon Contracting Company Joint Venture have signed an agreement with Nablus Municipality for the water-loss reduction phase two project for AED44.7m. The time for completion is 20 months. The project is financed by KFW Bank (Kreditanstalt Fur Wiederaufbau BankenGruppe) and is part of the donations program  set for Nablus Municipality.
"This project is of high importance and has been implemented within the strategic plan developed by the municipality, which stipulates changing and developing the major and minor water networks and domestic water connection in the entire areas of Nablus city including several streets to reduce the water cost on consumers," said the statement. "This is an important social project for helping the people of Nablus, and is part of our geographic expansion in the Mena region," said Riad Kamal, CEO of Arabtec Holding in the statement. Earlier in January, Abu Dhabi"s Aabar Investments purchased a 70 per cent stake in the Dubai firm. The contractor has won a number of contracts in Saudi Arabia, Abu Dhabi and Qatar over the past few months as it seeks opportunities to expand abroad. (With inputs from agencies)