FINANCIAL NEWS

ACC, Mist ink $204m expansion deal

09 Jan 2011

A director in the Arabian Construction Company (ACC), Hamed Mikati, said that Masdar Institute of Science and Technology (Mist) signed a contract worth $204 million with ACC for expanding Mist’s campus in Abu Dhabi, reported Gulf News.

Mikati said that the project aims to expand Mist’s campus by 82,000 square meters through the construction of student lodgings, seven open laboratories, a conference facility, a swimming pool and a gym.

Mikati added that project duration would be a year and a half and that it would be managed by Aldar Properties PJSC, the Abu Dhabi-based developer.

It is worth noting that the expansion on Mist’s campus would be adjacent to the previous buildings and would feature energy-efficient designs including natural ventilation and heat reflecting facades.

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