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The concession period spans 30 years, during which Mota-Engil will develop Brazil's first underwater tunnel.
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The project will replace the original 1960s 1,250-bed facility with 2,009 new, affordable student rooms.
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Despite the decline, the company experienced a 13% increase in machine sales and an 8% rise in service sales.
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The expansion will enable DIFC to host over 42,000 companies and support a workforce of more than 125,000 people.
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