Dubai – Mubasher: Arabtec Holding on Thursday announced that its wholly-owned subsidiary, Arabtec Construction, has been awarded an AED 169 million contract from Expo Dubai 2020.
The company will handle the construction works of the Public Realm Space in C38 District, located within the Expo 2020 development directly adjacent to the Al Wasl Plaza, according to a filing to the Dubai Financial Market (DFM).
Spanning 29,000 square metres, the project includes a 5,000 square metre iconic water feature, restaurants and utilities together with associated soft and hard landscaping and water feature elements.
“We are very pleased to be awarded our third major project as part of the Expo Master Plan. This award further demonstrates our core competency in the infrastructure sector,” Hamish Tyrwhitt, CEO of Arabtec, said.
The six-month Expo 2020 Dubai will be held on 20 October 2020 to 10 April 2021 and is expected to welcome more than 25 million visitors.
During the first nine months of 2018, the Emirati leading contractor for social and economic infrastructure posted a 250% year-on-year profit growth to AED 182.58 million from AED 52.18 million.
By 10:27 am UAE time, Arabtec’s stock stood at AED 2.12.
