Malaysia’s Serba Dinamik secures project deal in UAE worth $1.78 bn

Malaysia’s Serba Dinamik Holdings Bhd has bagged a US$1.78 billion contract in Abu Dhabi, the United Arab Emirates.

In its filing with Bursa Malaysia today, Serba Dinamik said its wholly-owned Serba Dinamik International Ltd (SDIL) had accepted the letter of award last Sunday from US-based Block 7 Investments LLC for the four-year project.

The contract for the engineering, procurement and construction of an innovation hub, academic campus, related facilities and information technology (IT) infrastructure is set to start on May 14.

“The project shall cover three areas of interest namely the innovation hub, academic campus and accommodation comprising apartments and hotels, over a total built-up area of 455,000 square metres,” it said.

The company said the innovation hub development would include offices, restaurants, and exhibition and IT centres.

“The project forms part of Block 7’s initiatives to create a global incubator for the advancement of innovators for the technology, property, financial as well as energy sectors, to be positioned as a new landmark for Abu Dhabi,” it said.

Serba Dinamik said the scope of work included but was not limited to designing, engineering, procuring, supervising, managing, supplying, transporting, constructing, commissioning, and the remedying of any defects in connection with the project.

“The contract signifies the positioning of the group’s ability in the development of innovation hubs and the contents of digital frontier technology,” it added.