Habtoor Leighton Group (HLG) has secured a contract with the Al Habtoor Group worth AED1.45 billion (USD395 million) for the construction of the Residential Towers project as part of the landmark AED11 billion (USD3 billion) Al Habtoor City development in Dubai.
The Al Habtoor Residential Towers project is a mixed-use development located immediately adjacent to the proposed Business Bay creek extension (Dubai Water Canal).
On an adjacent site HLG is currently constructing the AED1.9 billion (USD515 million) Al Habtoor City hotel development, which will be the Middle East’s largest integrated resort when it is completed in 2016.
HLG CEO and Managing Director, Mr. 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 Mr. 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 said.
Mr. Al Habtoor said, “I have confidence in the Habtoor Leighton Group. HLG has 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.”
Mr. Lopez-Monís said the recent announcement that Dubai would host World Expo 2020 would provide a boost to the Dubai 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 said.
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 AED1.62 billion. Construction will commence as soon as enabling works are completed and the main project will be completed 32 months later.