Sphere Abu Dhabi: Alec Wins $1.7-Billion Construction Contract

(MENAFN- Khaleej Times) Alec Holdings announced that its subsidiary, Alec Engineering and Contracting LLC-SPC, has secured the main construction contract for “Sphere Abu Dhabi”, one of the UAE capital's most anticipated entertainment developments.

According to a disclosure submitted to Dubai Financial Market and the Securities and Commodities Authority, the contract was awarded by the Department of Culture and Tourism – Abu Dhabi, with the total project value estimated at approximately $1.7 billion.

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The company said the project is expected to be completed in the third quarter of 2029, with the financial impact reflected progressively in the company's results during the execution period, in line with its revenue recognition policy.

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Sphere Abu Dhabi was first announced in October 2024 as part of a partnership between Abu Dhabi's Department of Culture and Tourism and Sphere Entertainment Co., the US-based company behind the Las Vegas Sphere. The venue is planned for a prime waterfront location in the capital and is expected to become a major hub for immersive entertainment, advanced media experiences and large-scale live events.

The project forms part of Abu Dhabi's broader strategy to strengthen its position as a global destination for culture, tourism and entertainment, while supporting economic diversification and attracting international visitors.

Alec is one of the region's leading construction companies and has delivered several high-profile projects across the UAE and Saudi Arabia, particularly in hospitality, aviation, mixed-use and large-scale entertainment developments.

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