Officials from the Malaysian construction firm PECD Bhd revealed on Tuesday that it had recently been awarded a 395 million ringgit ($107.9 million) development project to construct and maintain a 52-storey tower in Dubai.
The tower, to be a mixed-use development, will reportedly take two and a half years to complete, according to Reuters. The project comprises the construction of the Al-Fattan Towers that includes the 52-storey residential tower, a 10-storey office building, a pavilion with four basement car parking levels and a two-level podium.
Spokespersons for the company stated that the tower project would contribute positively towards its earnings for the financial year ending December 31.
"This latest addition to its portfolio of projects in Dubai is a good indicator of the group's growing reputation in the highly competitive construction sector in this region," PECD said in an official company statement on Tuesday to Bursa Malaysia according to Business Times.
"PECD is upbeat about its future growth in the construction, property and oil and gas sectors as the group continues to witness results from its diversification efforts," the statement went on to say.
PECD has an established presence in the engineering, construction and property development industry in various parts of the world including the United Arab Emirates, Iran, Sudan and Indonesia. Its contracts are valued at approximately 5 billion ringgit worth of contracts completed to date. In addition, it has a construction order book of more than 2.4 billion ringgit until 2007.
