TDIC awards Dh2bn project to Arabtec

Tourism Development & Investment Company (TDIC), one of Abu Dhabi's leading developers, has awarded a contract worth more than Dh2 billion to Dubai-based property developer Arabtec Construction for the design, development and construction of phase one of Saadiyat Beach Residences community Saadiyat Island.

The project is due for completion in 30 months.

The project comprises a range of three- to eight- bedroom villas and townhouses in Mediterranean, Arabian or contemporary architectural styles, some featuring a private gym, elevator, swimming pool and movie theatre.

The contract will cover the first seven gated communities, which make up the Saadiyat Beach Residences development.

"This project raises Abu Dhabi's residential market to a world-class level and is a highly prestigious award for Arabtec," said Riad Kamal, CEO of Arabtec Holding, the holding company of Arabtec Construction.

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