Saba Properties JLT has awarded Arabtec LLC, a subsidiary of Arabtec Holding PJSC, the AED 664 Million contract for the construction of its latest quality tower, Saba 4.

The Tower is located in the Jumeirah Lakes Towers precinct in Dubai. Work on the project’s infrastructure is already underway, while development of the main structure is expected to begin in the first quarter of 2009.

The tower is 222 meters high, has 51 floors dedicated for business spaces, a parking lot for business offices and a number of other facilities to cater to the needs of the offices there.

Mr. Javaheri, Chairman of Saba Properties JLT, said, “Arabtec has a remarkable engineering vision which is manifested in its development of high quality developments, whether residential or commercial, within an integral architectural framework. It has proven its outstanding status in the market through its successes in the construction of various landmark projects within its highly detailed strategic plans. All of this has contributed to Arabtec’s reputation as one of the region’s leading contracting companies, whose execution leaves no detail to chance and is always on schedule”.

“We are very pleased to work with Arabtec, and will do our utmost to support this agreement with future agreements that realize both our companies’ expectations and support our future plans for reaching higher standards in one of the region’s biggest property markets,” Javaheri added.

Mr. Riad Kamal, CEO of Arabtec Construction LLC, said, “Our company portfolio is reflected in the many projects we develop and serves as proof of our ability to excel at what we do, in terms of both quality and speed. We attribute our successes to the highly qualified staff within our ranks, whose dedicated efforts have made us one of the largest construction firms in the region”.

“This new agreement places us even more firmly in the construction market, and we are pleased to strengthen our ties with such a distinguished company as Saba Properties JLT. We are confident that this agreement and our two companies’ common vision with regard to architecture and development will lead to other, similar agreements in the near future.”