Target Engineering lands work for phase two of Downtown Dubai project
A subsidiary of Arabtec Holding has won a AED 950 million ($259 million) contract for work on the second phase of Emaar’s Forte residential development in Downtown Dubai.
The contract was awarded to Arabtec’s wholly owned subsidiary, Target Engineering Construction Company, according to a statement to the Dubai Financial Market.
The contract scope includes the construction of the podium and twin towers of 67 and 46 floors, which is in addition to phase one, which was previously awarded to Target for the construction of 5 basements for the 2 residential towers.
The duration of phases one and two will be 40 months, the Arabtec statement said.
Group Chief Executive Officer, Hamish Tyrwhitt said: “The award of Forte Phase 1 & 2 to Target Engineering demonstrates the strength and confidence of the Groups’ relationship with Emaar Properties. We look forward to further building the solid relationships we have with our clients in delivering quality projects.”