Two new hotels in Dubai with a total value of $15m (AED55m) are welcomed by investors.
An agreement has been signed between Eng Mohsen Salah, chairman of Arab Contractors and Sheikh Sultan Al Ghurair, chairman of Al Ghurair Real Estat for the construction of two hotels in Dubai, according to ConstructionWeekOnline.
Salah declared that this contract is considered the "Phase 1 among a bundle of projects", worth $163 million (AED 600million).
He added that each building includes a ground floor, four typical floors for hotel, built on 350,000m2.
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Eng Salah stated that the Arab Contractors has built many projects in the UAE. Currently, the contractor will deliver a 72-storey building, along with the 65-storey building, which will be finished in 2020, and a 35-storey building to be completed early 2018.
Salah added: "The work volume of the ongoing projects in the UAE reached $122.5m (AED450m). Our existence in the Emirati market ensures us that we enjoy good fame among the huge competition there."
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