As per the media reports, Monday saw an AED687 million contract being awarded by Ishraqah for Development, the Dubai-based property developer, to Arabtec Construction, for the Onyx Towers project in Dubai.

The Onyx Towers, to be situated next to Emaar Business Park, is a multi-purpose, freehold development.

International Capital Trading, a leading Abu Dhabi based investment company has announced that it has given a construction contract worth $436 million to a joint venture between Dubai-based Arabtec Construction and Abu Dhabi-based National Projects and Construction.

According to sources, the contract has been awarded for the Nation Towers project in Abu Dhabi.

The sources added that the project entails construction of two buildings comprising a 64-storey residential tower, a 50-storey hotel and office tower and a retail podium.