Business | Property
Arabtec signs Dh550m contract with Dubai Properties for Mudon project
Dubai Properties has awarded a Dh550 million contract for its Mudon General Residential Apartments project to Arabtec Construction LLC, a subsidiary of Arabtec Holding PJSC.
- Staff Report
- Published: 00:02 October 5, 2008
Dubai: Dubai Properties has awarded a Dh550 million contract for its Mudon General Residential Apartments project to Arabtec Construction LLC, a subsidiary of Arabtec Holding PJSC.
The contract entails Arabtec to carry out the construction works of 12 five-storey residential buildings within the Mudon development. The contract will be executed over 24 months.
Arabtec has already begun preparing the project site, which is located behind the Polo Club on Al Qudra road, in order to ensure that the work is completed on schedule.
Statement
Riad Kamal, CEO of Arabtec Holding PJSC said: "This contract with Dubai Properties holds great significance for us in terms of consolidating our relationship with Dubai Properties for whom we have delivered a large number of projects in the past. We are confident that there will be further co-operation with Dubai Properties in the future, being one of the largest developers in the region. We will always strive to serve them and maintain strong ties with them through delivering quality work on time for their projects."
Share this article
Gulf News classifieds
Popular in Business
Business Editor's choice
-
New law to protect investor rights
Dubai land department is studying legislation to protect property purchasers
-
Global Village
Revamped layout featuring four cultures to greet visitors this season
-
Cloud computing is here to stay
Managing security effectively is critical when sharing data over the internet
-
Banking
Mortgages: there's light at the end of the tunnel
UAE buyers are securing home loans again
