Dubai's Arabtec wins $1.55bn Jordan resort contract

January 20, 2014 - 9:31:48 am

DUBAI: Dubai contractor Arabtec Holding said on Monday it had won a 5.7 billion dirham or $1.55 billion contract to build a resort in the Aqaba area of southern Jordan.

The project being developed by an international fund called Red Sea Astrarium LP will involve a manmade lagoon, four hotels and entertainment facilities including a 4D cinema, a water park and a Star Trek-themed attraction, Arabtec said in a statement to the Dubai bourse.

Construction work on the resort, which is expected to create around 4,000 jobs when opened, will begin in the third quarter of this year, with a soft opening targeted for the third quarter of 2017, the statement added. (Reuters)