01 July 2013

ARABTEC Holding has announced that two of its units have secured contracts worth a total of $97 million to develop a five-star hotel and a villa project, both in Dubai.

Arabtec Construction has been awarded the main construction contract to build a Dh810-million ($50 million) five-star hotel and serviced apartments tower located in the Business Bay district of Dubai, while the company’s specialist home construction unit, has been awarded a Dh179-million ($47 million) contract to construct the third phase of Dubai Silicon Oasis (DSO) Cedre Villas project.

 The hotel project is set to commence shortly with a 24-month duration and expected to be completed in Q2 2015.

Located in the heart of Dubai, the development has a built-up area of 125,000 sq m (1.5 million sq ft); and encompasses two towers with 447 rooms and 136 serviced apartments.

Commenting on the award, Hasan Abdullah Ismaik, managing director and CEO of Arabtec Holding (Arabtec), said: “This new landmark is expected to play a vital role in supporting the local tourism and hospitality sector, which continues to grow in line with the UAE vision and economic goals.”

The hotel and serviced apartments will be equipped to provide both business and leisure travellers with an exclusive hospitality experience. From its modern business facilities, meeting rooms, banquet halls, to its state-of-the-art gym, spa and fine dining, the hotel and serviced apartments are well placed to service the growing number of Dubai visitors.

The construction of the villas by Arabtec Living involves a 53,000-sq-m extension that will add 160 villas to the Cedre Villas Complex. Arabtec Holding said the project will be completed over a period of 15 months.

The previous two phases of The Cedre Villas development project were built by Arabtec with the second phase completed in 2010. The third phase will feature two-storey villas with a total built-up area of 3,800 sq ft. The extension brings the total number of villas to 1,207.

 Cedre Villas is part of a comprehensive urban community at DSO that combines office towers, research and development (R&D) and industrial zones, educational institutions, luxury apartments, villas and other facilities.

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