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Abu Dhabi’s Aldar awards $1.1bn contract to Arabtec venture

Published: Updated:

Abu Dhabi’s Aldar Properties has awarded a 4 billion dirhams ($1.09bn) contract to a joint venture led by Dubai contractor Arabtec for a mixed-use development project in Kazakhstan, the companies said.

The consortium of Arabtec and Consolidated Contractors Group (CCC) will build the Abu Dhabi Plaza in Astana, which is a 500,000 square meter development comprising five towers, a joint statement by Aldar and Arabtec said on Monday.

Construction will start shortly and is expected to be completed by 2017.

Arabtec said the new project will take the company’s gross value of projects awarded in 2013 to nearly 13 billion dirhams.