Dubai construction company Arabtec ARTC.DU is close to completing the planning and design stage of its $40 billion deal to build one million homes in Egypt, the company said on Sunday.
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The new joint venture to participate in projects in the Middle East and Africa comprised of Arabtec and Samsung Engineering Co.
Arabtec Holding announced on Sunday that is has signed a joint venture contract for US$629 million.
According to its CEO, Aabar would not increase its shareholdings in Arabtec.
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