Dubai – Mubasher: Arabtec Holding on Sunday confirmed winning awards totalling AED 9 billion, of which the upgrade for Bahrain’s International Airport amounts to around AED 3.8 billion.
The UAE builder noted that the awards included work in Abu Dhabi, Dubai and Bahrain in the coming months, according to a filing to the Dubai Financial Market (DFM).
Chairman Mohamed Thani Al Rumaithi on Wednesday told reporters that the AED 9 billion worth of projects received in March were likely to boost Arabtec’s profits next year.
The builder’s most recently-awarded projects included two residential towers in Downtown Dubai, while the other involved the construction of 1,100 villas for Fujairah citizens in Mohammed bin Zayed city.
Arabtec posted AED 2.78 billion losses in 2015 against a net profit of AED 241.58 million in 2014.
