Mubadala Healthcare, a business unit of Mubadala Development Company PJSC (Mubadala), and Aldar Properties PJSC (Aldar) have today announced the appointment of Sixco-Samsung Joint Venture (SSJV) as the main contractor for the main construction package of Cleveland Clinic Abu Dhabi (CCAD), following a recent competitive tender process.

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Arabtec Holding Co., the United Arab Emirates’ largest construction company, stopped work on a project for state-owned developer Nakheel PJSC for lack of payment, Chief Executive Officer Riad Kamal said.

Kamal said there was no delay in payments from the government of Dubai for state projects, according Bloomberg.

Aabar Investments PJSC, the Abu Dhabi government controlled company, was still carrying out due diligence for a stake in Arabtec, Kamal said. The company will press ahead with a Russian project, which would start after soil tests were concluded, he said.

With around 50 malls, 6000 retail outlets and a countless number of stalls being built for DSF 2010, high quality aluminum becomes a prerequisite in Dubai.

This year, the Dubai Shopping Festival isn’t harbored only on the inside of gigantic malls and dazzling retail outlets. It is here for everyone to watch. That is why DSF 2010 brings its joys in the form of entertainment, promotions and stalls to the streets of Dubai for everyone to see. Al Seef, Al Dhiyafah and Al Rigga are places where visitors and residents can enjoy a festive atmosphere this season.

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Tourism Development and Investment Company (TDIC), the master developer of cultural, residential and tourism destinations in Abu Dhabi, is fast on track with what will become one of the world’ hottest cultural landmarks – the Louvre Abu Dhabi on Saadiyat Island.

This universal museum, which witnessed groundbreaking in May 2009, has now entered the piling works phase which has been awarded through a competitive tendering process to German construction company Bauer International FZE and is in schedule to be completed in 2013.

Work will progress over the following 20 weeks. A total of 5,638 piles will be driven into the ground, including 4,298 steel piles and 1,340 concrete piles, amounting to 94.2km in length.

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Drake & Scull International PJSC (DSI) reported net profits of AED333 million for the fiscal year starting 17 November 2008, the date the company was incorporated as a public joint stock company, and ending 31 December 2009. The company recorded AED2.2 billion in revenue for the same period.

The results showed an annual profit of AED280 million for the calendar year starting 1 January 2009 and ending 31 December 2009, recording a year-on-year profit increase of 32%, up from AED212 million in 2008. Annual revenue totalled AED1.89 billion, up from AED1.72 billion in 2008, marking a year-over-year increase of 10%. Read more

UAE Construction Market Data & Forecast to 2013 report is the essential source for Construction industry data and analysis covering UAE, both at the top level and providing in-depth category and channel insight.  The report provides historical data and forecasts for the UAE Construction industry in the period 2004-2013, detailed profiles and financial metrics covering the major market players, a breakdown of key recent M&A and partnership activity, and comprehensive analysis of the key factors driving the industry at consumer, market and company level.

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Arabtec has been awarded the contract to build a new five-star hotel valued at $120m in the Syrian capital city of Damascus.

The 338-room Yasmeen Rotana Hotel is being developed by Bena Properties, a member of Cham Holding and the parent company of Al Fajr S. A. of Syria, according to a statement by Arabtec on Monday.

The hotel, which will cost about $67m to build, will be located on the Damascus – Beirut highway, 35 minutes from Damascus International Airport, Arabtec said.

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Arabtec Construction LLC received a Letter of Award from Tasameem Real Estate Co. LLC of Abu Dhabi to Build P17 Tower on Sheikh Zayed Road, Dubai, with a contract value of Dhs 710 million for the first stage.

The project’s duration is 38 months from the date of completion of the foundation works. The project designed by Atkins comprises a tower with 80 floors, three basement levels and a ground floor. The tower will also include a five star hotel, furnished apartments, offices and luxurious apartments. The project also consists of a service building of 10 floors and 5 basements which is connected to the tower at the ninth level by a bridge. This building is also used for car parking and contains a health club.

Dubai contractor Arabtec has won a Dirhams 696m ($189.5m) contract to build an office and hotel projects in Doha, Qatar, the firm said on Wednesday. The project will last 30 months, Arabtec said in a statement. Arabtec also said it and al-Mukawilon Contracting Co signed an agreement with Nablus Municipality in Palestine for a water project worth Dirhams 44.7m. The project completion is expected to last 20 months, it added. Earlier in January, Abu Dhabi’s Aaabar Investments purchased a 70 per cent stake in the Dubai firm. The contractor has won a number of contracts in Saudi Arabia, Abu Dhabi and Qatar over the last few months as it seeks opportunities to expand abroad and weather a downturn in its home market.

Abu Dhabi-based Tourism Development & Investment Company (TDIC) has issued pre-qualification invitations for two contracts in Abu Dhabi.

The larger of the two jobs covers the main contract works for Deyar Al Mafraq, which will include 545 apartments across eight buildings.

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