| 08 Sep 2008 |
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Saba awards Dh664m deal to Arabtec
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Saba PropertiesSaba Properties
has awarded Arabtec, a subsidiary of Arabtec HoldingArabtec Holding, the Dh 664 million contract for the construction of its latest quality tower, Saba 4.The tower is located in the Jumeirah Lakes Towers precinct in Dubai. Work on the project's infrastructure is already underway, while development of the main structure is expected to begin in the first quarter of 2009.
The tower is 222 meters high and has 51 floors dedicated for business spaces. Javaheri, Chairman of Saba Properties JLTSaba Properties JLT
, said: "Arabtec has a remarkable engineering vision, which is manifested in its development of high quality developments - residential or commercial - within an integral architectural framework. "It has proven its outstanding status in the market through its successes in the construction of various landmark projects within its highly detailed strategic plans.
All of this has contributed to Arabtec's reputation as one of the region's leading contracting companies, whose execution leaves no detail to chance and is always on schedule."
"We are very pleased to work with Arabtec, and will do our utmost to support this agreement with future agreements that realise both our companies' expectations and support our future plans for reaching higher standards in one of the region's biggest property markets," Javaheri said.
Riad Kamal, CEO of Arabtec ConstructionArabtec Construction
, said: "Our company portfolio is reflected in the many projects we develop and serves as proof of our ability to excel at what we do, in terms of both quality and speed. We attribute our successes to the highly qualified staff within our ranks, whose dedicated efforts have made us one of the largest construction firms in the region. "This new agreement places us even more firmly in the construction market, and we are pleased to strengthen our ties with such a distinguished company as Saba Properties JLTSaba Properties JLT
. We are confident this agreement and our two companies' common vision with regard to architecture and development will lead to other, similar agreements in the near future."Arabtec HoldingArabtec Holding
, formerly known as Arab Technical Construction Company, is a Public Joint Stock Limited Liability Company formed in 2004 to invest in the contracting sector through establishing, acquiring and owning shares in construction related companies in the UAE and abroad. Arabtec ConstructionArabtec Construction, Austrian Arabian Ready Mix Concrete Co and Arabtec Pre-cast are wholly-owned subsidiaries of Arabtec. Arabtec ConstructionArabtec Construction
Company projects include Burj Dubai, Jumeirah Beach Residences, Al Mazaya Sky Gardens and Emirates Hills Developments. By Staff Writer
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