Arabtec wins two new contracts worth Dh210m for Abu Dhabi projects – The National

Arabtec wins two new contracts worth Dh210m for Abu Dhabi projects – The National

Arabtec wins two new contracts worth Dh210m for Abu Dhabi projects. A unit of Arabtec Holding, the UAE-listed construction company, won two contracts worth Dh210 million to carry out works at an offshore oil facility and and for the construction of a new commercial building in Abu Dhabi.. Target Engineering has been awarded a Dh84m by Adnoc Offshore, an offshore arm of the state owned Abu Dhabi National Oil Company.. The work will take place at the Satah plant on Zirku Island, which is about 120km north west of Abu Dhabi.. The company has also been awarded a Dh126m contract for the construction of a 19-storey commercial building, Sunset Square, in Abu Dhabi.. Work on the project is expected to commence shortly and will take 30 months to complete.. Arabtec swung to a full-year loss in 2019 due to a decline in revenue amid a slowdown in the real estate sector.. The company attributed the loss mainly to weaker income from its construction business as liquidity for projects remained tight.. In 2019, Arabtec won new contracts, including a Dh366m contract from Emaar Misr to build a residential project in Egypt..