EMAAR IGO has issued a Letter of Acceptance to ACC (Arabian Construction Company)/Arabtec Joint Venture to carry out construction works at the Eighth Gate Development in Damascus, Syria.
The total value of the contract awarded to the Joint Venture amounts to Dhs152 million (SYP 2.1 billion) and has to be completed for over a period of 20 months.
The works consist of constructing four buildings at the Eighth Gate Development located in Damascus, Syria.
Riad Kamal, CEO of Arabtec Holding PJSC said, “This project award in Syria is a significant step for Arabtec as it compliments the established and distinguished relationship with EMAAR. It also falls in line with Arabtec’s strategy in diversifying its operations outside the UAE and comes as a continuation to Arabtec’s outstanding track record with EMAAR which commenced a few years back when Arabtec carried out iconic projects for EMAAR in the UAE including the Burj Dubai which is still under construction.”
He added: “Arabtec is pleased to joint venture with ACC to construct this project. ACC is a recognized contractor for its quality and ability to deliver projects on time and shares with Arabtec the strategic importance of diversifying its operations in the Middle East.”
ACC/Arabtec Joint Venture in Syria has been formed on an equal basis between the two companies.