Dubai - Mubasher: Arabtec Holding, a leading contractor for social and economic infrastructure, on Monday unveiled that its wholly-owned subsidiary Arabtec Construction has been awarded AED 353 million contracts by DAMAC Properties.

Arabtec Construction will be responsible for the construction works at two luxury residential towers, Rěva Residences and Věra Residences, according to a press release.

The two towers are located next to each other in Business Bay and overlook the Dubai Water Canal, Dubai’s newest waterfront district, the Dubai-based company said.

Both towers are strategically located near some popular neighbourhoods and tourist attractions, including the Downtown Dubai district and up-scale communities along the Sheikh Zayed Road.

Upon the contracts, luxury apartments will be built over 125,178 square metres across the two residential towers of 30 storeys each, the company added.

Construction works will commence immediately with a 25-month period, Arabtec noted.

“We are delighted to have been awarded another project by DAMAC Properties. The onboarding of repeat business from our clients is testament to the strength of our relationships and our commitment to delivering projects in our core competencies and core markets,” CEO of Arabtec Hamish Tyrwhitt commented.