Dubai – Mubasher: Arabtec Holding Company announced on Sunday that its subsidiary Arabtec Construction has been awarded a project worth AED 1.7 billion (around $463 million) by the ministry of presidential affairs to build 1,100 villas for citizens of the emirate of Fujairah.
According to a bourse filing, the company will start construction work soon, and expects to finish the project within two years and a half.
Earlier this month, Arabtec Construction won an AED 1.1 billion ($299.5 million) twin-tower project in Dubai.
Arabtec Holding’s stock was the best performing share in today’s trading in the Dubai Financial Market after adding 6.8% to AED 1.7 ($0.46) as 318.8 million shares were exchanged at AED 192.8 million ($52.49 million).
