(MENAFN) Arabtec won a USD 0.46bn housing deal to build 1,100 houses for Emiratis in Fujairah, which was awarded for the homes that will be built on a 2.15sqm.
Accordingly, the project was of "national significance," while the firm's share price finished the day 7 percent higher at USD 0.47bn.
Moreover, it is the 4th main deal win announced by the company, bringing the joined value of contracts won to almost USD 2.31bn.
However, the UAE's federal debt for 2016 was cut only to USD 13.21bn, a decrease from USD 13.36bn in 2015.
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