Arabtec Holding said it is part of a joint venture that has signed a $629 million contract to develop part of the Saraya Aqaba real estate project in Jordan.
The group of companies includes Dubai-based Drake & Scull International and Consolidated Contractors Company, Arabtec said in a statement posted on the Dubai Financial Market website.
Phase one of the Saraya Aqaba project, situated on the northern shore of Aqaba in the Hashemite Kingdom of Jordan, will include four international hotels and a convention center and is scheduled to be completed in 28 months time.
The latest contract win comes just weeks after Arabtec was awarded a $197 million contract to build the first St. Regis branded property in Amman, Jordan.
Dow Jones Newswires