ALEC Wins $1.7bn Sphere Abu Dhabi Contract as Net Profit Climbs to $58.2m

ALEC Holdings has been awarded the main construction contract for Abu Dhabi’s $1.7bn Sphere project, as the contractor reported a sharp rise in net profit to $58.2m.

The major contract comes as ALEC continues to expand its presence across the UAE’s large-scale development sector, with Sphere Abu Dhabi set to become one of the capital’s most significant new entertainment destinations.
ALEC’s net profit reached $58.2m, highlighting the company’s stronger financial performance alongside a growing pipeline of major projects.

The Sphere project is expected to add another high-profile development to Abu Dhabi’s expanding portfolio of cultural, entertainment and tourism assets, reinforcing the emirate’s push to attract major international destinations and events.

The appointment also places ALEC at the centre of one of the UAE’s most closely watched construction projects, with the $1.7bn development set to become a major addition to Abu Dhabi’s evolving entertainment landscape.

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Originally posted on LinkedIn