Besix-Samsung JV in $1.29bn Abu Dhabi deal
Cairo, March 14, 2010
Top Belgian construction group Besix said its subsidiary Six Construct, in a joint venture with Samsung, has signed a 940 million euro ($1.29 billion) contract to develop a land mark hospital project for Mubadala, an Abu Dhabi government company.
The Abu Dhabi Cleveland Clinic, to be located on Sowwah Island, will bring high-quality medical service to its patients in an environment equipped with state-of-the-art amenities, said Mubadala. The agreement with Cleveland Clinic was signed in September 2006.
A conglomerate of companies active in the construction, engineering, environmental and real estate sectors, Besix said Six Construct's share in the contract is 60 per cent or $780 million.
Six Construct and Samsung have respectively worked on world-class projects including Ferrari World on Yas Island and ADIA headquarters on the Abu Dhabi Corniche, the Belgian group said in a statement.
The Abu Dhabi Cleveland Clinic, which boasts of 200 000 sq m parking area and 375 top of the range medical rooms ncluding exclusive Royal Suites and all associated administrative areas, will be Middle East's landmark hospital.
The turnkey project of 400 000 sq m is due for completion in March 2013, Besix added.