Dubai builder Arabtec wins $197 mln contract in Jordan - statement | Panorama

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Home Panorama Dubai builder Arabtec wins $197 mln contract in Jordan - statement 02-06-2013 03:22 PM Ammon News - AMMONNEWS - Arabtec, the contractor part-owned by Abu Dhabi state fund Aabar, has won a $197 million contract to build a hotel and residential project in Jordan, the company said in a statement on Sunday. The contractor will build three 17-storey buildings in Amman, which include one St Regis Hotel tower and two other residential towers. The project was awarded by Abu Dhabi developer Al Maabar, Arabtec said in a statement on Dubai's bourse. Work on the project will commence in July and will take 33 months for completion, it said. Arabtec has won a series of projects after replacing its chief executive in February amid a management shake-up led by Aabar, which has tightened its grip on the group. Its subsidiary won a $108 million contract to build a hospital in Saudi Arabia on Saturday. (Reporting by Praveen Menon; Editing by Mirna Sleiman) (Reuters)

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Dubai builder Arabtec wins $197 mln contract in Jordan - statement

02-06-2013 03:22 PM

Ammon News - AMMONNEWS - Arabtec, the contractor part-owned by Abu Dhabi state fund Aabar, has won a $197 million contract to build a hotel and residential project in Jordan, the company said in a statement on Sunday.

The contractor will build three 17-storey buildings in Amman, which include one St Regis Hotel tower and two other residential towers. The project was awarded by Abu Dhabi developer Al Maabar, Arabtec said in a statement on Dubai's bourse.

Work on the project will commence in July and will take 33 months for completion, it said.

Arabtec has won a series of projects after replacing its chief executive in February amid a management shake-up led by Aabar, which has tightened its grip on the group.

Its subsidiary won a $108 million contract to build a hospital in Saudi Arabia on Saturday. (Reporting by Praveen Menon; Editing by Mirna Sleiman)
(Reuters)

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