The Dubai-listed Arabtec has won a AED 1.7 billion ($462m) contract to build housing for UAE nationals in the emirate of Fujairah, it said in a statement.
The project, awarded by the Ministry of Presidential Affairs, involves the construction of 1,100 villas, the builder said.
The work was won by its subsidiary Arabtec Construction, and the villas will be built in Mohammed Bin Zayed City, Fujairah.
The project comprises a total built up area of 430,000 square metres on a plot area of 215 hectares. Construction will commence imminently with an expected duration of approximately 2.5 years, Arabtec said in a statement to the Dubai Financial Market.
“We are proud that the Ministry of Presidential Affairs has chosen Arabtec to execute this project of national importance,” said Saeed Mohamed Al Mehairbi, Acting CEO of Arabtec Holding.
