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.
More Construction & Real Estate Stories
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan
- Cluttons Dubai launches new luxury apartments
- Dubai developer Damac profits triple to $641m
- Dubai to start work on $544m water canal
- Dubai property market can absorb 25,000 units
- Jones Lang LaSalle renamed 'JLL'
- Aldar raises synergy estimate from Sorouh merger
- UAE industrial property sector keeps up growth
- Dubai residential property prices up 26pc
- Majid Al Futtaim to build new mall in Dubai IMPZ
- 300 firms to take part in Dubai property forum
- Naseej inks deal to develop Bahrain projects
- Dadabhai unveils new residential project
- Flowcrete completes Dubai Mall project
- Global asphalt demand hits new high
- $1.3bn infrastructure investment firm set up in Saudi
- Manara sees big project villa success
- Global giants eye RAK utility projects
- Cayan partners with international artist Zsuzsanna