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FINANCIAL NEWS
Dhabi Contracting to diversify into property development
20 Jun 2016
Dhabi Contracting (DC), a leading company in UAE, has revealed its plan to expand its works into the property development market to increase its revenue.
DC has three major new projects in the pipeline, including an apartment block by Al Raha Beach, a residential building and a five-star hotel at Ruwais in Abu Dhabi.
In detail, Piling and foundation works are under way at the apartment block at Al Raha Beach, which will carry 120 units over 11 floors.
“margins had come under pressure in Abu Dhabi over the past two years, with current tender bids coming in approximately 20 per cent”, the chief operating officer of DC says.
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