Arabtec Signs $6.1B Deal To Build UAE Hotels, Apartments

Law360, New York (February 3, 2014, 12:56 PM EST) -- Engineering and construction group Arabtec Holding PJSC has agreed to build 37 towers in Abu Dhabi and Dubai, United Arab Emirates, for state-funded principal shareholder Aabar Properties LLC in a deal worth 22.44 billion dirhams ($6.1 billion), Arabtec announced Sunday.

The deal is considered one of the largest real estate plays in the region, according to Arabtec, who said it is also the company's biggest project by value.

In connection with the deal, Arabtec will build 37 mixed-use, residential and hotel towers in Abu Dhabi and...
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