Arabtec wins $110m contract
01 July 2013
UAE-based construction firm Arabtec Holding said a joint venture between its Saudi unit and Greece’s Terna has been awarded a SR404-million ($110 million) contract to build a hospital and medical centre in Riyadh, Saudi Arabia.
Construction on the Aldara Hospital and Medical Centre is expected to be completed in early 2015, Arabtec said. The six-storey hospital will have a built-up area of 107,000 sq m and will consist of six floors and include two medical centres.
“Saudi Arabia is rapidly developing its social and physical infrastructure, and we believe there is a strong opportunity for Arabtec to participate in construction projects in the kingdom such as hospitals, schools and transportation,” said Arabtec Holding’s chief executive officer Hasan Abdullah Ismaik.
Foundation, ground works and waterproofing are scheduled for completion at the end of this month (July).
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