Habtoor Leighton wins $395m Dubai tower deal
Dubai, December 11, 2013
Habtoor Leighton Group (HLG) has secured a contract worth Dh1.45 billion ($395 million) for the construction of the 'Residential Towers' project as part of the landmark $3 billion Al Habtoor City development in Dubai.
HLG, part of the Leighton Group, Australia’s largest project development and contracting group, is a leading diversified international contractor in the Mena region. The group operates in the UAE, Qatar, Kuwait, Saudi Arabia, Oman and Bahrain.
The Al Habtoor Residential Towers project is a mixed-use development located adjacent to the proposed Business Bay creek extension (Dubai Water Canal). It includes two 75-storey residential towers, a 52-storey residential tower and a 7-storey podium including basement, ground floor and five floors of retail and parking
On an adjacent site HLG is currently constructing the $515 million Al Habtoor City hotel development, which will be the Middle East’s largest integrated resort when it is completed in 2016, said a statement from HLG.
HLG CEO and managing director José Antonio López-Monís said the contract continues a long and successful relationship with the Al Habtoor Group.
“We’ve successfully delivered numerous major projects for the Al Habtoor Group in the past, and this project further demonstrates the confidence Khalaf Al Habtoor has in HLG. We’re delighted to be selected to build what will be one of Dubai’s most prestigious and recognizable developments,” he added.
Lopez-Monís pointed out that Dubai's recent win of World Expo 2020 would provide a boost to the emirate's construction market.
“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,” he noted.
On the HLG's selection, Al Habtoor said "They have built some of the most prominent landmarks in Dubai and the UAE – including Terminal 3 at the Dubai International Airport, the world famous Burj Al Arab and The Officers’ Club in Abu Dhabi."
HLG’s associated business, HSSG, is currently undertaking the enabling works for the project. The total value of construction, including consultant costs and piling but excluding interior fit-out and furniture, is Dh1.62 billion, said the HLG statement..
The construction will commence as soon as enabling works are completed and the main project will be completed 32 months later, it added.-TradeArabia News Service