Drake & Scull Engineering will provide MEP services for an under-construction hotel and apartment complex.
Should it buy the permitted number of shares, Aabar’s stake would rise to 37.27 per cent.
Gulf Technical Construction Co will provide civil, architectural and MEP services for a high-rise residential tower in Dubai.
The contracts, awarded by ADNOC and ADCO, were awarded to Arabtec’s Target Engineering unit.
The company made a profit of SAR45.6 million ($12.2 million) in the last quarter of 2014.
Qatar was the most expensive construction market in the Middle East region in 2014, according to a study by EC Harris.
Rail projects across the GCC are expected to fuel intra-regional trade while helping reduce fuel consumption.
The company’s statement follows reports that it had assigned a consultant to advise on potential take over bids.
The project will include a new passenger terminal covering an area of 86,000 square metres and will be built to accommodate around five million passengers annually.
The speed of the urbanisation process has put additional stress on social services and infrastructure in a region already deeply vulnerable to climate change.
In November, chief executive Abdallah Massaad told Reuters that the company was working to exit its non-core businesses.
The company’s shares have plunged 42 per cent since the end of October as part of a panic sell-off in the Gulf.
Cement firms in Oman have also warned that the price rise will lead to an increase in their production costs.
The contract, awarded by the government, covers the construction of staff housing at King Khaled University.
The capital increase will require the approval of the bourse regulator and an extraordinary shareholder meeting, a bourse statement said.
Upto 35 per cent of overall infrastructure work on the Dubai Parks and Resorts complex is completed, confirm officials.
Engineering firm Arcadia will now seek to expand into Saudi Arabia, Qatar and the UAE.
The builder reported a profit of Dhs68.7 million ($18.71 million) in the third quarter of 2014, down from Dhs100.8 million in the corresponding period of 2013.
The firm made a net profit attributable to shareholders of Dhs21.4 million ($5.83 million) in the third quarter of 2014, down from Dhs23.8 million in the year-earlier period.
The trade, which made Aabar the biggest shareholder in Arabtec, was done at a price of Dhs5 per share, compared to the stock’s closing market price of Dhs4.26.
Bildco posted a loss of Dhs10.8 million ($2.9 million) in the three months to Sept. 30, compared with a loss of Dhs7.7 million in the same period a year earlier.
The new company is expected to be named Orascom Construction.
Work on the plant has already begun and is scheduled to be completed by the fourth quarter of 2015, the company said.
The project which includes 1,920 residential units for Adnoc staff in Ruwais is scheduled for completion in two years.
Major infrastructure projects planned in Saudi will require raising annual capital expenditure above the levels of SAR150 to SAR250 million seen in past years, Khodari said.
King Abdulaziz International Airport in Jeddah was rated the world’s second worst airport by a travel website based on an online poll.
The firm attributed the rise to a 5.6 per cent rise in revenue and a reduction in costs and marketing expenditure.
Brent crude oil sank to a four-year low below $83 a barrel last week because of ample supply and the prospect of a weak global economy.
The seven contracts are to build stations and lay cables for the rail system in the Saudi capital.
The project would not only mark a huge expansion of Arabtec’s business but also boost Egypt’s struggling economy and help to resolve a housing shortage.