ALEC Holdings announced that its subsidiary, ALEC Engineering and Contracting LLC-SPC, has received a letter of award from the Department of Culture and Tourism – Abu Dhabi for the construction of “The Sphere Abu Dhabi”.
According to the disclosure, the project has an estimated value of approximately USD 1.7 billion.
The company stated that the project is expected to be completed during the third quarter of the financial year 2029.
ALEC added that the financial impact of the project is expected to be reflected in the company’s results over the execution period, in line with its revenue recognition policy.
Source: Dubai Financial Market (DFM) Disclosure / ALEC Holdings
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.