Latest news with #ArabianConstructionCo.
Bloomberg
15-05-2025
- Business
- Bloomberg
Abu Dhabi Construction Firm Is Said to Tap FAB, HSBC for Listing
Arabian Construction Co. has picked First Abu Dhabi Bank and HSBC Holdings Plc to advise on a planned initial public offering in the United Arab Emirates, adding to the rush of firms seeking to cash in on the country's booming property market. The Abu Dhabi-based company has hired the banks to work on a listing that could happen as soon as the second half of the year, according to people familiar with the matter. ACC, as the firm is known, is aiming to raise several hundred millions of dollars, one of the people said, declining to be identified while discussing private information.
ME Construction
10-04-2025
- Business
- ME Construction
Shamal awards main works contractor for Baccarat Hotel and Residences Dubai to Arabian Construction Co.
Construction Shamal awards main works contractor for Baccarat Hotel and Residences Dubai to Arabian Construction Co. By The groundbreaking for the project took place in January 2024; with all enabling works and infrastructure packages now 100% complete Shamal have awarded the main works contract for its upcoming Baccarat Hotel and Residences Dubai to Arabian Construction Co. (ACC). The UAE-based contractor specialises in complex construction and infrastructure projects, with developments including high-rises and five-star hotels, in the UAE and internationally. Baccarat Hotel and Residences Dubai will include hotel rooms and residences. The groundbreaking for the project took place in January 2024; with all enabling works and infrastructure packages now 100% complete, the main works contractor will start mobilisation imminently. Arabian Construction brings in expertise in executing complex design structures, and has a deep understanding of the distinctive architectural and design requirements for the project. 'We are delighted to mark another milestone in our journey to enrich Dubai's world-class skyline with the legendary Baccarat brand. We are particularly pleased to partner with such a well-established and accomplished contractor in this dynamic city,' said Abdulla Binhabtoor, Chief Executive Officer, Shamal. 'A development of the calibre of Baccarat Hotel and Residences Dubai representing exquisite hospitality and living demands the best in the industry for every element, and we are confident that our development partners H&H alongside Arabian Construction Co. will enable us to fulfil our promise to deliver the ultimate in luxury for both our visitors and residents alike,' Binhabtoor added. Miltos Bossinis, Chief Executive Officer, H&H. said, 'We are proud to partner with Shamal on developing this architectural landmark that will add greater allure to the city's skyline. We are pleased to have Arabian Construction Co. on board to build further on our vision of creating exceptional experiences through development and design.' Maher Merehbi, Chief Executive Officer, Arabian Construction Co. commented, 'We are proud to be named as the main contractor for the prestigious Baccarat Hotel and Residences Dubai, which will be a beacon of luxury and elegance on Downtown Dubai's awe-inspiring skyline. Our considerable expertise and experience make us the ideal partner for such an iconic brand as Baccarat, and our passion for excellence and the highest of quality and standards is shared with Shamal and H&H. Together, we look forward to bringing this magnificent development to life.'
Bloomberg
05-03-2025
- Business
- Bloomberg
Abu Dhabi Construction Firm Eyes IPO to Tap UAE's Property Boom
Arabian Construction Co. is considering an initial public offering in the United Arab Emirates, the latest firm looking to capitalize on the country's booming property market. The Abu Dhabi-based firm has invited banks to pitch for roles on the potential deal, according to people familiar with the matter. The share sale could raise several hundred million dollars, the people said, requesting anonymity as the information is confidential.
