Dubai's Arabtec wins $705m Abu Dhabi contract.

Dubai-based builder Arabtec Holding said recently that one of its units had been awarded a AED2.59bn ($705m) construction contract on Abu Dhabi's Al Reem Island.

The project will house a five-star hotel and a residential tower, and will be built within three years, it said in a bourse statement, adding that the deal had pushed its contract backlog to a record high of more than AED33bn.

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