Arabtec Holding, the UAE's largest construction firm by market value, said on Sunday it had received a 599 million dirham ($163.1 million) building contract from Emaar Properties.

Under the deal, Arabtec would design and build 550 villas for the Warson Development in Dubai, the firm, which is building the world's tallest skyscraper, said in a statement on the Dubai bourse website.

Construction of the villas will take place over 30 months, it added. Emaar is the largest Arab developer by market value. - Reuters