Arabtec Holding has announced that its wholly-owned subsidiary, Arabtec Construction, has been awarded a AED1 billion ($270 million) contract from Dubai Properties for Villanova Amaranta and La Quinta phases.
The project involves the construction of a residential community that includes villas and townhouses, the company said in a filing to Dubai Financial Market.
It said Emirates Falcon Electromechanical Co (EFECO), another subsidiary of Arabtec, will be carrying out the MEP works for the project.
Villanova, which is influenced by Mediterranean architecture, is located off Emirates Road, between Al Ain Road and Al Qudra Road.
The project works are expected to begin immediately with an overall duration of 28 months.
Hamish Tyrwhitt, Group CEO, said: “We look forward to working on the Villanova Project and to developing our relationship with Dubai Properties. This contract reflects the Group’s ability to deliver projects tailored to our client’s requirements."
He added that the company aims to capitalise on the positive long-term outlook for the construction and engineering sector in Arabtec's core geographic markets.
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