Arabtec wins enormous $283m Aramco villa project

Dubai construction giant Arabtec has sealed a $283m (AED1.04m) deal with Saudi Aramco to build 380 villas in Al Dhahran.

In a statement to the Dubai bourse, Arabtec said that the project would be completed over a 28 month period and would cover the design, construction, completion and maintenance of the villas and associated external work.

The villas will be built on a 454,500m2 plot with a total built-up area of 166,200m2.

Arabtec last month secured a number of deals totalling $235m (AED930m) through its oil and gas sector subsidiary Target.

Target will deliver seven projects for Saudi Aramco – the biggest of which is a project to improve a liquefied petroleum drain in the Abqiq refinery worth $74m (AED272m). It also landed a project to reduce water content in a liquefied gas station at Aramco’s Shadqam and Al Othmania plants worth $64m (AED235m).

A third major deal involved expanding liquefied gas facilities at Aramco’s giant Yanbu refinery, which is valued at $37.3m (AED137m), while a fourth will see two new buildings constructed at its Ras Tanura terminal at a cost of $32m (AED117m).