Construction company Arabtec Holding PJSC said its unit has received a contract worth US$42.7mn for a construction project in Cairo, Egypt
The Dubai-based company will develop 128 villas in phase III and IV of Village E ?Levana? in the Uptown Cairo Master Project.
The Cairo development plan is among other large projects launched by Abdel Fattah Al-Sisi since he became president in 2014 in an effort to sour economic growth.
The plan includes construction projects in an area of 700sq km to ease traffic and attract businesses to set up offices in the city.
?The Uptown Cairo Project award marks one of the first projects we have been awarded outside the UAE in over a year. We look forward to working on another project for Emaar as we build on our solid relationships with our key clients. We will continue to strategically onboard work in our key competencies and key geographic markets where our clients operate that makes business sense for Arabtec?s success and sustainability,? Arabtec Holding?s group CEO, Hamish Tyrwhitt said.
Arabtec has previously worked on projects such as the Burj Khalifa, the Emirates Palace hotel and the Dubai Maritime City among others.
