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Arabtec signs Dh500m contract to build Nile Tower in Egypt
DUBAI - Arabtec Holding, a leading construction company in Mena, announced today the signing of a Dh500 million contract to build the Nile Towers, a 23-storey twin-tower project comprising a Hilton Hotel and luxury apartments in Maadi, Cairo.
Arabtec was awarded the project in July, 2012 with a local joint venture partner.
Hasan Ismaik, Managing Director and CEO of Arabtec, said: “We are very pleased to be working on the prestigious Nile Towers development.
“The construction industry is entering a new phase of growth across the Mena region that is forecast to last for the next 7 to 10 years. Arabtec has a dynamic growth strategy to expand its business into new sectors and new markets.”
The Nile Towers Project will overlook the waters of the Nile, covering an area of 110,208 square metres in the Maadi suburb of South Cairo. The project consists of two towers, 3 basements, plus upper and lower ground floors. One tower will be the Hilton Hotel with 256 guest rooms and suites, and a range of hotel facilities. The adjacent tower will have 114 luxury residential apartments.
The architect of Nile Towers is Space Consultants. The project will be managed by Hill International, and the supervision consultant is EHAF Consulting Engineers.
The Nile Towers is Arabtec’s third significant project since the company entered the Egyptian market.
Emaar awarded Arabtec a D174-million contract for its Al Marassi villa project for Emaar to construct 74 luxury villas and 30 town houses on the coast at Alexandria.
AMER awarded the company a Dh162-million contract to build The Hanging Gardens a 2.2-million-square-metre 726-apartment residential development on a clifftop at Sokhna with spectacular views over The Red Sea.
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