Dubai: Arabtec unit wins AED950mn Forte Phase 2 contract
Dubai-based contractor, Arabtec Holding, announced that its wholly-owned subsidiary, Target Engineering Construction Company (Target), has been awarded Phase 2 of Forte, a residential development in Downtown Dubai by Emaar for AED950mn.
In a statement to the Dubai Financial Market, the company said that the contract scope includes the construction of the podium and twin towers of 67 and 46 floors, which is in addition to Phase 1, that was previously awarded to Target for the construction of five basements for the two residential towers.
The duration of Phase 1 and 2 will be 40 months. Group chief executive foficer, Hamish Tyrwhitt, commented: The award of Forte Phase 1 and 2 to Target Engineering demonstrates the strength and confidence of the group’s relationship with Emaar Properties. We look forward to further building the solid relationships we have with our clients in delivering quality projects.