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FINANCIAL NEWS
UAE’s Al Arif Contracting secures USD48.09m Dubai contracts
12 Apr 2012
(MENAFN) UAE’s Al Arif Contracting Company’s Managing Director Hamad Al Arif, said that the firm has won USD48.09 million worth of projects in the emirate of Dubai, reported Emirates 24/7.
Al Arif added that the contracting company’s new projects include 3 high-rise buildings in Al Nahda, Al Quasis and Al Souq Al Kabeer, which are scheduled to be completed by the end of the current year.
Moreover, the company secured other projects, including 92 luxury villas in Al Badia and Al Fahidi Supermarket that would be ready by mid-2013
He also said that the UAE has the highest per capita expenditure on construction in the world and it is expected to notably grow annually in the coming years.
It is worth noting that Al Arif Contracting Company, which was founded over 37 years ago, is a subsidiary of Masharie, the private equity arm of Dubai Investments.
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