Kuwait-Mubasher: Combined Group Contracting Company said that its Abu Dhabi-based subsidiary has been awarded a tender by the UAE’s Sheikh Zayed Housing Programme, according to a bourse statement on Sunday.
The tender is valued at AED 342 million (KWD 25.920 million), with implementation period of 790 days and preparation period of 30 days.
The company, under the tender, will be responsible for construction and maintenance of a residential complex in Umm al-Quwain.
Regarding the financial impact, the company said that it will generate a margin profit representing 0.49% of the project’s value by the end of first year, in addition to 4.40% and 3.11% by the second and third years.
