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Sat 4 Oct 2008 04:24 PM

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Arabtec awarded $150mn contract

Dubai construction giant to build 12-storey building in Mudon development for Dubai Properties.

Arabtec awarded $150mn contract
DEAL AWARDED: Arabtec is to build a 12-storey building in the Mudon development for Dubai Properties. (Getty Images)

Dubai's Arabtec Holding said on Saturday it was awarded a 550 million-dirham ($149.7 million) contract by Dubai Properties for a construction project.

The contract entails the construction of a 12-storey residential building in Mudon development, which is to be completed within two years, Arabtec said in a statement.

Arabtec is the United Arab Emirates' largest construction company by market value. (Reuters)

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