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FINANCIAL NEWS
Arabtec selected for USD272m Fairmont hotel in Abu Dhabi
18 Feb 2013
(MENAFN) Abu Dhabi-based National Investment Corporation said it has awarded USD272.3 million contract to Dubai-based developer Arabtec Holding to build a Fairmont-branded hotel in Abu Dhabi, Reuters reported.
The contract involves building the hotel as well as maintaining the development and its electro-mechanical works for one and two years respectively, the statement said.
The project, which will take 30 months to complete, will see the construction of a 39-storey tower, composed of 563 rooms and 249 serviced apartments.
Last month, Arabtec won USD653 million contract to build a branch of France’s Louvre museum in the UAE capiutal.
It was also part the consortium awarded a USD2.94 billion contract from the Abu Dhabi government in June 2012 to build a mid-field terminal at the Abu Dhabi International Airport.
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