Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE - Arabtec bags Dh2.59 billion Al Reem Island contract  Join our daily free Newsletter

MENAFN - Khaleej Times - 15/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) An Arabtec Holding unit on Tuesday announced that it has been awarded a Dh2.59 billion construction contract on Abu Dhabi's Al Reem Island.



The project will consists of a five-star hotel and a residential tower, and will be built within three years, it said in a statement, adding that the deal had pushed its contract backlog to a record high of Dh33 billion



Hasan Abdullah Ismaik, managing director and chief executive officer of Arabtec Holding, said: "This is the first glad tidings of the new year. And there are many on the way. These will be announced in due course. We are confident that 2014 will be a special year not only in terms of new awards but also with regard to the progress of implementation of our growth strategy and the striking of more local and international partnerships to take Arabtec to higher levels of success.



The project will house a 61-storey residential tower, featuring 613 furnished apartments and another 15 storey C-shaped tower that will host a five star hotel offering 400 guest rooms and 200 serviced apartments. The two towers will be connected by a ballroom and retail block extending 4,600 sqm in area



Negotiations are underway with a number of world-leading hospitality brands for the management of the hotel and serviced apartments. Ismaik said: The continuous growth of our backlog and our focus on diversification into higher-margin sectors in association with international partners, and geographical expansion will help reinforce Arabtec's position as a construction leader. These will all translate into sustainable, long-term benefits for our shareholders.



Construction work on the project, designed by the Architecture and Planning Group, is scheduled to begin in the first quarter of 2014 and will take 36 months to complete


 


Khaleej Times




  MENA News Headlines
 Jul 3 2015 - Kuwait- KSE benchmark, weighted index fall in end of sessionKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Benchmark and weighted index of Kuwait Stock Exchange dropped in end of Thursday's session.Price index read 6,181, losing 5.66, weighted index edged down by 0.2, ...

 Jul 3 2015 - Bahrain condemns attacks in SinaiKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Bahrain strongly condemned Thursday recent attacks in the northern part of Egypt's Sinai Peninsula, which killed scores of soldiers and policemen.It added in a ...

 Jul 3 2015 - EU extends police mission for PalestineKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The EU Thursday announced the prolongation of the EU police mission for the Palestinian Territories (EUPOL COPPS) until 30 June 2016.The mission is part of wider ...

 Jul 3 2015 - Tunisia arrests eight suspects over Sousse attackKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Eight suspects, including a woman, have been arrested in connection with Friday's deadly attack in the Tunisian resort of Sousse, said an official here ...

 Jul 3 2015 - Kuwait- His Highness Amir receives cable from Polish pres. on mosque blast victimsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah received Thursday a cable of condolences from Poland's President Bronislaw Komorowsk on the victims ...

 Jul 3 2015 - Kuwait- His Highness Amir receives cable from Bulgarian pres.Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah received Thursday a cable of condolences from Bulgarian President Rosen Plevneliev on the victims of ...

 Jul 3 2015 - Kuwait- His Highness Amir receives condolence cable from Lithuanian pres.Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah received Thursday a cable of condolences from Lithuanian President Dalia Grybauskaite on the victims ...

 Jul 3 2015 - Kuwait- His Highness Amir receives cable from Greek pres.Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah received Thursday a cable of condolences from Greece's President Prokopis Pavlopoulos on the victims ...

 Jul 3 2015 - Arab League condemns attacks on army, police in SinaiKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Council of the Arab League has condemned attacks on Egyptian army and police forces in North Sinai on Wednesday, which left 30 troops killed or injured.The ...

 Jul 3 2015 - Kuwait - Parliament Speaker receives condolence cables on mosque blast victimsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Speaker of the National Assembly Marzouq Al-Ghanim received on Thursday condolence cables from Nicaraguan Parliament Speaker Rene Nunez, Secretary-General of ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help