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Wed 24 Oct 2018 02:10 PM

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Arabtec wins $166m deals for Expo 2020, Damac's Akoya

Arabtec Construction has been awarded two contracts for major projects in Dubai

Arabtec wins $166m deals for Expo 2020, Damac's Akoya
Arabtec Holding Group CEO Hamish Tyrwhitt.

Arabtec Holding on Wednesday announced that its wholly-owned subsidiary, Arabtec Construction, has been awarded two contracts worth a total of AED610 million ($166 million) for major projects in Dubai.

The construction giant said it has won an AED311million contract from Expo Dubai 2020 to construct the Public Realm in Concourses and Arrivals Plazas at the Expo 2020 site.

The project comprises construction of 268,000 sq m of public concourses including public entrance plazas, landscaping, lighting water features, irrigation, landscape structures and furniture.   

Construction is scheduled to begin this month and be completed in the last quarter of 2019.

Arabtec Construction has also been awarded an AED299 million contract by Damac Properties for the construction of 478 luxury villas in the developer’s Akoya Oxygen project, a master community development in Dubai.

Construction is expected to commence immediately, with plans to complete the villas within 16 months. Akoya Oxygen is a 55 million sq ft master development and is home to an 18-hole championship golf course designed by Tiger Woods.

Group CEO Hamish Tyrwhitt said: "We are delighted that Expo Dubai 2020 have selected Arabtec to deliver this important element of the Expo Master Plan. This award demonstrates our commitment to diversifying our business and building upon our social infrastructure capability as a core competency."

On the Damac award, he added: “We are delighted that Damac continues to show confidence in Arabtec Construction through the award of our third project at the Akoya Oxygen master development, further building on our longstanding relationship."

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