Construction work on project expected to begin in Q1 2014, completion expected by 2017
Arabtec Construction, the Dubai based contractor, has won a $705 million contract to build a 61 floor block of flats and a hotel complex in the Shams area, parent company Arabtec Holding has announced.
The project will be constructed on a plot area of 32,000m2 as part of Al Reem Island, and a built up area of around 350,000m2. A five star hotel will also be built, which will offer 400 guestrooms and 200 serviced apartments.
The Al Reem Island project is claimed to be the largest development in Abu Dhabi and will be the first of its kind in the region to be developed on a natural island. It has been designed by the Architecture and Planning Group.
Construction is scheduled to begin in the first quarter of 2014 and is expected to be completed within three years.
“Arabtec has been actively involved in delivering a host of infrastructural, tourist and cultural projects that constitute some of the major components of Abu Dhabi’s urban evolution as envisaged in Plan Abu Dhabi 2030,” said Hasan Abdullah Ismaik, managing director & CEO of Arabtec Holding, in a statement.
“This is the first happy tiding 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,” he added.
With the new contract award, Arabtec’s 2013 backlog in 2013 crosses the $8.98 billion limit, catapulting to unprecedented levels and exceeding the record in the company’s 38 year history.
Arabtec’s top list of completed projects includes iconic buildings such as the world’s tallest building, the Burj Khalifa in Dubai, and Abu Dhabi landmark, the Emirates Palace Hotel, as well as other technically challenging work on airports and related infrastructure.