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Arabtec has AED 265 million in Abu Dhabi projects
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Wednesday, 01 Feb 2012
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Contractor Arabtec announced AED 265 million worth of projects in Abu Dhabi including two in the Western Region.

The deals include the AED 110 million expansion of Phase 7 of the Ruwais refinery, AED 30 million contracts to build a training center for Abu Dhabi Polymers and AED 116 million smelter project for Emirates Aluminum.

Analysts said that they reflect a shifting focus of Abu Dhabi's construction away from major commercial projects and towards infrastructure and mining.

Mr Jones Lang LaSalle Craig Plumb at real estate consultancy said that "We have been saying for a while that there will be a shift in development activity and spending away from commercial projects offices and residential towers to basic infrastructure, such as roads railways and power stations. This will definitely continue into 2012 and will inevitably lead to a refocusing of activities by contractors.”

Arabtec's announcement came on the same day that Drake & Scull Abu Dhabi announced that it has signed a deal to perform MEP works for an iconic government facility in Abu Dhabi without naming either the project or the value of the deal.

(Sourced from Gulf News)

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