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14 April 2024

Thailand firm eyes projects in Abu Dhabi

By Staff Writer

Thailand's Ascon Construction is eyeing projects in Abu Dhabi despite the slowdown due to the emirate's strong financial status and growth potential, the company's chairman said yesterday.

Ascon expanded overseas into Dubai last year and is currently building a Dh1.5 billion residential project, due for completion in early 2011. "Abu Dhabi is very strong in terms of financials, its policies and government support especially for housing projects," Pattanapong Tanumathaya told Reuters.

Ascon has set up an office in Abu Dhabi partnering Al Brooge Holding that would support it through funding for projects. It is bidding for the Dh1bn Bateen Park project and plans to bid for more residential projects, he said.