Abu Dhabi’s Aldar Awards $1.1bn Contract To Arabtec

Construction of the Kazakhstan project is expected to be completed by 2017.

Abu Dhabi’s Aldar Properties has awarded a Dhs4 billion ($1.09 billion) contract to a joint venture led by Dubai contractor Arabtec for a mixed-use development project in Kazakhstan, the companies said.

The consortium of Arabtec and Consolidated Contractors Group (CCC) will build the Abu Dhabi Plaza in Astana, which is a 500,000 square metre development comprising five towers, a joint statement by Aldar and Arabtec said on Monday.

Construction will start shortly and is expected to be completed by 2017.

Arabtec said the new project will take the company’s gross value of projects awarded in 2013 to nearly Dhs13 billion.