Emmar Properties has announced awarding the UAE-based construction company and a subsidiary of Arabtec Holding, Target Engineering Construction Company has been awarded a 53.4 million dollar contract.
As per this agreement, Target Company will be responsible for the main works for Phase 1 of Emaar’s latest project, Forte Project in Downtown Dubai.
The contract includes the construction of five basements for two residential towers. The construction works are expected to commence this year and be completed within a year.
Hamish Tyrwhitt, group chief executive of Arabtec Holding, stated that the company is extremely excited to work on another project with Emaar Properties.
“We continue to win projects that are aligned with our key geographies and our key competencies, whilst maintaining a robust risk management approach,” he added.