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FINANCIAL NEWS
UAE- Arabtec wins USD631m Qatari contract
05 Dec 2012
(MENAFN) UAE’s Arabtec Holding’s managing director, Hasan Ismaik, stated that the company has won a USD631 million contract from Msheireb Properties for implementing Phase 2 of its mixed-use Msheireb Downtown Doha project, reported Arabian Business.
Ismaik said that the contract was awarded to a consortium of Arabtec Construction UAE and Arabtec Construction Co Qatar.
He added that the project covers the establishment of a built-up area of nearly 370,000 sqm that consists of 10 buildings.
Around 99 residential units will be included in the second phase, in addition to 3,102 parking spaces and commercial, retail, hotel, hospitality and community-based facilities.
Moreover, the project will be home to the region’s first MGallery hotel, a mall covering almost 42,000 sqm over 4 levels that include 100 stores, restaurants and a cinema.
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