Arab Technical Construction (Arabtec) has announced that it has won a Dh1.7 billion ($463 million) contract to build 13 towering blocks at the Jumeirah Beach Residence (JBR), a sprawling residential project in Dubai.

Arabtec has been selected as the contractor for sectors 1 and 3.
The high-rise towers will be built over a four-level podium covering an estimated area of approximately 10 million sq ft within the development.
The deal marks the single largest residential contract ever awarded to a construction company in the UAE, Arabtec claims.
The JBR project which is expected to include 36 residential and four hotel towers, is being developed by Estithmaar Realty.
The other contractors include:
Saleh Construction for sector 2; Al Habtoor Engineering for Sector 4, Al Shafar General Contracting for Sector 6 and Dubai Civil Engineering for sector 7. Sector 5 is still in the negotiating stage and is expected to be finalised this month.
The mini-township development along the beachfront is being built at a cost of Dh5.2 billion ($1.41 billion) and will cover a gross floor area of more than 22 million sq ft.
The project offers a mini-city community environment with all facilities to make it self-sufficient, including four major hotel developments. The residential, commercial, entertainment and retail development will have 40 towers – including the four exclusive hotel towers.

• Mashreqbank and Arabtec Construction have inked a Dh1.6 billion ($435 million) financing facility for the prestigious Jumeirah Beach Residence development. This is the largest UAE facility for financing a construction project, a statement said.
  The facilities will finance the main contractor for the construction of Package 1, consisting of six residential towers, and Package 3 for a further seven residential towers, all offering affordable apartments ranging from studios to penthouses on a freehold basis.