Habtoor Leighton wins US$ 395 million Dubai contract

An AED 1.45 billion (US$ 395 million) contract to construct a residential development in Dubai, UAE, has been awarded to Habtoor Leighton Group (HLG).

HLG is 45% owned by Australian contractor Leighton and is also part of Dubai-based developer Al Habtoor Group, which awarded the contract for the Al Habtoor City Residential Towers project.

The project consists of two 75-storey towers, one 52-storey tower and a seven-storey development. The total value of construction, including consultant costs and piling but excluding interior fit‐out and furniture, is AED 1.62 billion (US$ 441 million).

HLG said construction would start as soon as enabling works were completed, and the main project would be completed 32 months later.

The Residential Towers project is part of a larger, AED 11 billion (US$ 3 billion) Al Habtoor City development in Dubai.

On an adjacent site HLG is currently constructing the AED 1.9 billion (US$ 515 million) Al Habtoor City Hotel, which it said would be the Middle East’s largest integrated resort when it is completed in 2016.

HLG CEO and managing director José Antonio López‐Monís said, “We have an optimistic view on the Dubai construction market and anticipate a significant increase in building and infrastructure opportunities over the next few years.”