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Arabtec to set up five new subsidiaries

Arabtec logo is seen on buildings under construction in the Marina area of DubaiDubai-based builder Arabtec Holding said on Sunday it would set up five new subsidiaries as it expands into new markets and infrastructure projects.

Two of the units will focus on infrastructure projects inside and outside the United Arab Emirates, one will focus on water and energy project and one will concentrate on the Egyptian market, it said in a bourse statement.

Arabtec will also set up an investment firm, Arabtec Capital, to provide global financial services.