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Alec wins $1bn Dubai contracts

Alec, a subsidiary of Al Jaber Group has won new contracts worth approximately Dh4 billion ($1.08 billion) in Dubai in the last three months, a report said.

Residences at Marina Gate development in Dubai, Dubai Festival City Mall extension, Bvlgari Resort Hotel & Marina Village and Bluewaters Wharf Retail Project, are among the major contracts the firm won, added the Emirates 24/7 report.

The Marina Gate development contract, construction of which slated to begin in the first quarter of 2015, is alone worth Dh1 billion ($272 million), according to the report.

The contract for the second phase of the 73,500-sq-m Dubai Festival City (DFC) Mall extension amounts to about Dh600 million, including demolition works. The construction period will be 16 months, the report said.

Both the Dh1.4 billion ($381 million) contract for Bvlgari Resort Hotel & Marina Village and the Dh1.2 billion ($326 million) job for Bluewaters Wharf Retail Construction Works were awarded to Alec by by Meraas Development.


Source:  Trade Arabia

More info:  http://tinyurl.com/nurqwjp