Arabtec wins $152m UAE contracts

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Arabtec wins $152m UAE contracts

The contracts, awarded by ADNOC and ADCO, were awarded to Arabtec’s Target Engineering unit.

Dubai’s Arabtec Holding has won two contracts in Abu Dhabi worth Dhs560 million ($152.5 million) combined through its Target Engineering unit, the builder said on Sunday.

Abu Dhabi National Oil Company (ADNOC) has awarded a Dhs345 million contract to expand a housing complex in Ruwais, near Abu Dhabi, to Target, a fully-owned subsidiary of Arabtec.

Abu Dhabi Company for Onshore Oil Operations (ADCO) also awarded a Dhs215 million dirham to Target to construct a new management building and a civil defence station, Arabtec said in statements to Dubai’s bourse.

Both contracts are expected to be completed in February 2016.

Target Engineering handles construction projects in the oil and gas sectors in the United Arab Emirates, Saudi Arabia and Qatar

Source: Gulf Business

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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.