Al Bateen Park in Abu Dhabi, an Aldar development.
Photo courtesy: Aldar.com
Aldar awards $545m luxury villa contract to Arabtec
ABU DHABI, January 11, 2016
Abu Dhabi's Aldar Properties has awarded a Dh2-billion ($544.5 million) contract to Dubai's Arabtec to build 1,017 luxury villas in the UAE capital, Aldar said on Monday.
The villas are expected to be handed over to owners at the end of 2017, Aldar said in a statement to Abu Dhabi's bourse.
Arabtec's largest shareholder is Abu Dhabi state fund Aabar. – Reuters
