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FINANCIAL NEWS
Kazakhstan- Arabtec-led joint venture awarded USD1b project deal
18 Jun 2013
(MENAFN) Managing Director and CEO of Arabtec Holding, Jasan Abdullah Ismaik, stated that a joint venture led by Arabtec won a USD1.08 billion contract to build a project for Aldar Properties in Kazakhstan, reported Arabian Business.
The CEO of the Dubai-based contractor also said that the project was called the Abu Dhabi Plaza and will be built in the city of Astana. It is planned to be completed by 2017.
The project will include 566 luxury apartments, 107,000 square meters for commercial offices, a five-star hotel with serviced apartments, a retail mall and car parks for more than 4,000 cars.
It is worth noting that the new contract raises the total gross value of contracts awarded to the giant UAE-based Arabtec this year so far to about USD3.53 billion.
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