Arabtec wins $108mn hospital contract in Saudi

RIYADH: A subsidiary of Dubai-based contractor Arabtec Holding has won 404-million Saudi riyals ($107.7 million) contract to build a hospital in Saudi Arabia, the company said in a statement on Saturday.

The Aldara Hospital and Medical Centre is scheduled for completion in early 2015 and will house a 105-bed, six-storey hospital and two medical centres in the Saudi capital, Riyadh. The client is Aldara Medical Corporation, the statement said.

The contract was awarded to Arabtec Terna, which is 60 percent owned by Arabtec, the company that built Dubai's Palm Island. The company said it wants to expand in the Gulf region and do more specialised construction projects.