Consortium led by Dubai's Arabtec wins $629m Jordan project

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Dubai construction firm Arabtec said on Sunday that a consortium led by the company had won a $629 million contract to build the first phase of a tourism project in Jordan.

The contract to build Saraya Aqaba was awarded to a consortium of Arabtec, Dubai contractor Drake and Scull and Consolidated Contractors Co, Arabtec said in a statement on Dubai's bourse.

The project comprises 634,000 square meters of development around a man-made lagoon, with about 1.5 kilometers (0.9 miles) of beachfront. The project's total cost will be $1 billion, the statement added.

The development, to be delivered in 28 months, will include four international hotels including Jumeirah International and Starwood Hotels facilities, as well as a water park.

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