Abu Dhabi conglomerate Al Jaber Group said on Tuesday it has won a AED2.57 billion ($699.80 million) contract to build 40 residential buildings in the emirate.
State-owned Abu Dhabi National Oil Company (Adnoc) awarded the contract to the Al Jaber Building, a subsidiary of the family-owned group, a statement said.
The project which includes 1,920 residential units for Adnoc staff in Ruwais, 240km from Abu Dhabi, is scheduled for completion in two years.
The project covers an area of 670,000 sq m and includes 40 residential buildings, in addition to mosques and car parks.
“The project is a manifestation of ADNOC’s commitment to providing international living standards and inspiring living experiences to its employees,” the statement added.
Obaid Khaleefa Al Jaber Al Marri, chairman of Al Jaber Group said: “We are delighted to be awarded the construction contract of the Ruwais Housing Complex Expansion Phase 4. This is the fifth project that we execute for ADNOC.
“We are looking forward to delivering more prestigious projects with ADNOC.”
Al Jaber Building has previously executed Phase 3 of the Ruwais project, which included the construction of 21 buildings for married staff, 5 buildings for bachelors, 56 luxurious villas and service buildings with internal road networks, in addition to gardens and leisure areas.
Al Jaber, which has operations in construction, aviation and retailing, signed a debt restructuring deal with bank creditors in June.
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