The largest builder in the UAE by market value said 60 percent of the Sabah Al-Salem University will be built by the company and the work is expected to be completed in 42 months. It will work on the project along with Kuwait’s Combined Group Contracting Company.

The entire project is estimated to be worth 1.5 billion  dirhams ($408.5 million). Arabtec will construct four buildings, each having six floors.

The builder won contracts worth 356 million dirhams ($96.92 million) to build an underground car park in Abu Dhabi and residential villas in Egypt last month.

The company looks to seek approval from its shareholders for a capital raise through a rights issue of 398.67 million shares at 1 dirham a share. It will also decide on the sale of five-year $150 million worth convertible bonds.