HLG wins $395m Dubai project deal
Dubai, July 9, 2014
The Habtoor Leighton Group (HLG) has won a major contract worth Dh1.45 billion ($395 million) from Dubai International Real Estate (DIRE) to develop its 'Jewel of the Creek' mixed-use project in Dubai.
As per the deal, HLG will complete the construction of five hospitality buildings ranging between 15 and 19 floors, featuring a hotel and serviced apartments, a ballroom and an attached café; a marina, including four foot bridges and one vehicular bridge besides hard and soft landscaping works.
This project forms a significant part of the Dh3 billion 'Jewel of the Creek' development, which HLG has worked on since 2012 when the group was appointed to construct and complete the substructure works for four basement levels and ground floor slabs on the waterside site between Al Maktoum Bridge, Baniyas Road and the Floating Bridge.
Khalil Al Sayegh, the general manager of DIRE, said it was a significant project in terms of geographical location and strategic importance, and in terms of technical and commercial value.
"We are proud and elated to have awarded Package 8 of our Jewel of the Creek project to the HLG, as a continuation of its accomplishment in delivering previous work on the project. The upcoming packages will include a 4-star hotel, mixed-use residential offices and retail," he added.
HLG chairman Riad T. Sadik said the group was proud to have been selected to deliver Package 8 – continuing its partnership with DIRE and playing a part in the construction of this landmark project.
The construction work on the Package 8 has begun and is due for completion in the third quarter of 2017, stated Sadik.
"Jewel of the Creek is of great significance to HLG and we are honoured to have been selected as DIRE’s contractor of choice," he added.-TradeArabia News Service