Arabtec Holding on Tuesday announced that its wholly owned subsidiary, Target Engineering Construction Company, has been awarded a AED950 million ($258.6 million) contract.
The work will cover phase 2 of Forte, a residential development in Downtown Dubai by Emaar Properties, the contractor said in a statement.
The contract scope includes the construction of the podium and twin towers of 67 and 46 floors, which is in addition to phase 1, that was previously awarded to Target for the construction of five basements for the two residential towers.
The duration of phase 1 and 2 will be 40 months, the company said.
Group CEO Hamish Tyrwhitt said: “The award of Forte phase 1 and 2 to Target Engineering demonstrates the strength and confidence of the group's relationship with Emaar Properties. We look forward to further building the solid relationships we have with our clients in delivering quality projects."For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.