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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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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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