Dubai's Arabtec says unit wins $282.33 mln Emaar contract

DUBAI, March 5 Tue Mar 4, 2014 11:56pm EST

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DUBAI, March 5 (Reuters) - A subsidiary of Dubai builder Arabtec Holding has won a 1.04 billion dirham ($282.33 million) contract to build over 1,500 townhouses for developer Emaar Properties, Arabtec said on Wednesday.

The subsidiary, Arabtec Construction, will begin work on the project in the first quarter of 2014 and the project will be delivered in 24 months, it said in a statement. (Reporting by Olzhas Auyezov; Editing by Yara Bayoumy)