Construction

Arabtec to set up five new subsidiaries

Construction giant to launch units focusing on infrastructure, energy and water and global financial services

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Dubai’s Arabtec Holding has announced that it will set up five new subsidiaries as it looks to expand into new markets and infrastructure projects.

According to a Reuters report, the construction giant will launch two new units that will focus on infrastructure projects inside and outside the UAE.

In addition, Arabtec will also launch a unit that will focus on water and energy projects, while another will focus on the Egyptian market, it said in a bourse statement.

The company will also set up an investment arm, Arabtec Capital, which will provide global financial services, the report added.

Earlier this year, Arabtec announced that it would look to create thousands of jobs for youth in the GCC and MENA regions, with the launch of a large-scale campaign targeting job creation.

The recruitment campaign will begin in the UAE, targeting young people looking to gain experience from the various projects Arabtec is involved in.

The next phase of the campaign will include Saudi Arabia, Kuwait, Qatar, Bahrain and Sultanate of Oman. It will eventually expand to Jordan, Lebanon, Iraq, Palestine, Egypt, Tunisia, Algeria, Morocco and other Arab Countries where Arabtec has business.

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