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Business / Middle East Business

Arabtec wins $197m contract in Jordan

Published: 27 May 2013 - 01:02 am | Last Updated: 01 Feb 2022 - 09:02 am

DUBAI: Arabtec, the contractor part-owned by Abu Dhabi state fund Aabar, has won a $197m contract to build a hotel and residential project in Jordan, the company said yesterday.

The contractor will build three 17-storey buildings in Amman, which include one St Regis Hotel tower and two other residential towers. The project was awarded by Abu Dhabi developer Al Maabar, Arabtec said in a statement on Dubai’s bourse.

Work on the project will commence in July and will take 33 months for completion, it said.

Arabtec has won a series of projects after replacing its chief executive in February amid a management shake-up led by Aabar, which has tightened its grip on the group. Its subsidiary won a $108m contract to build a hospital in Saudi Arabia on Saturday. 

Reuters