Emaar Properties issued a letter of acceptance to a unit of Arabtec Holding, the UAE's largest construction firm by market value, to design and build villas worth Dh520 million ($141.6 million).
Arabtec Construction is due to complete the project in Dubai over 32 months, the company said in a statement on Saturday.
Arabtec's projects include the $20 billion Burj Dubai development that features the tallest building in the world. (Reuters)
Arabtec receives Emaar’s nod to build $141m villas