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FINANCIAL NEWS
Abu Dhabi’s Adnoc, Al Jaber Group sign USD700m contract
28 Oct 2014
(MENAFN) Al Jaber Group, the Abu Dhabi-based Corporation, announced it has won USD699.80 million contract to build 40 residential buildings in the emirate by State-owned Abu Dhabi National Oil Company (Adnoc), Arabian Business reported.
The project, which includes 1920 residential units for Adnoc staff in Ruwais, will be set 240 kilometer away from Abu Dhabi and will covers an area of 670.000 square meter, which will include 40 residential buildings, in addition to mosques and car parks, with a scheduled date completion to be in around two years.
Al Jaber Group, which has operations in construction, aviation and retailing, has previously executed Phase 3 of the Ruwais project, which included the construction a number of buildings and luxurious villas as well as service buildings with internal road networks, in addition to gardens and leisure areas.
“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 and we are looking forward to delivering more prestigious projects with ADNOC,” Chairman of Al Jaber Group said.
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