Arabtec has won a $272.3m (AED 1bn) deal contract from The National Investment Corporation to build a new 39-storey tower in Abu Dhabi containing a new Fairmont hotel and apartments.
The company has been appointed to build the 155,000m2 structure close to Marina Mall and Abu Dhabi's corniche by National Investment Holdings.
The hotel will contain 563 rooms and 249 apartments. It will also have 13 food and beverage outlets and parking for 1394 cars.
Arabtec's contract involves a 30-month build period and an ongoing 12-month maintenance contract once the building completes. It will also maintain electro-mechanical works for two years after completion. The building is set to complete in 2016.
H.H. Dr. Sheikh Sultan Bin Khalifa Al Nahyan, chairman of the National Investment Corporation (NIC), said: “Arabtec has a long record of completing landmark projects, thus it has been selected for its track record and experience in the development of luxury towers - a selection that we expect to be a success, which would further boost avenues of co-operation towards broader horizons in future,”
NIC managing director Abdullah Al Saadi said the hotel would be "one of the most luxurious hotels in Abu Dhabi".
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"Our expectations are based on facts that derive from the hotel’s unique design that will constitute an architectural addition for Abu Dhabi," he said.
"No doubt the selection of Arabtec to carry out works on the project is attributed to its vast experience in development of towers in the country and the Gulf region, especially The Burj Khalifa, ADIA Tower and Emirates Palace."
Arabtec managing director Hasan Abdulla Ismaik said: “Undoubtedly, granting the contract to develop the Fairmont hotel project will add significantly to the company’s portfolio and record in the UAE."
The tower has been designed by UAE-based Dewan Architects and Engineers.
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