Arabtec $102m deal for villa projects

expat network

Arabtec $102m deal for villa projects

Arabtec, the Dubai based construction company says it has signed two deals totalling AED375 million with Emaar Properties.

In a statement to the Dubai bourse, Arabtec said the first contract covered the construction of townhouses and villas for the Al Mira Residential project in Dubai. The project will be completed by May 2016.

The second contract covers the construction of “a number of villas” at the Arabian Ranches complex near Dubai’s Motor City. The precise nature and number of villas wasn’t announced, but the contract value stands at AED160 million, and handover is set for March 2016.

Arabtec and Emaar have worked on a number of projects together. The most notable was the construction of the Burj Khalifa and the Address Hotel in Downtown Dubai, plus the Emirates Hills project, Polo Villas and other developments.

Source: Trade Arabia

More info: http://tinyurl.com/mqm6g5l

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.