This article is from the Australian Property Journal archive
THE Al Habtoor Leighton Group has been awarded a contract for the AED8.85 billion ($A3.75 billion) Dubai Pearl mixed-use development for Pearl Dubai FZ LLC.
Pearl Dubai FZ LLC is a UAE real estate developer. Last month Dubai International Financial Centre announced that it had taken an AED3 billion investment in the project through DIFC Investments’ real estate fund.
The Dubai Pearl project involves the construction of an integrated city overlooking the Palm Jumeirah development in Dubai.
Dubai Pearl will feature four 73-level mixed-use towers and the Baccarat Hotel and Residences, a 2000-seat state-of-the-art theatre and a luxury fashion precinct.
Al Habtoor Leighton will commence work on the project in January.
Al Habtoor Leighton Group’s managing director David Savage said the company is one of the few contractors with the capacity and capability to take on a project of this magnitude.
“This is yet another example of the group’s overall strength, and is another vote of confidence in the strength of the UAE market. This puts our uncompleted work at record levels, with Dubai remaining the largest component of our business. The award of this project confirms our position as the UAE’s leading construction group,” he added.
Pearl Dubai FZ LLC chairman Abdul Majeed Ismail Al Fahim said this deal underlines Dubai Pearl’s strong commitment to the UAE economy.
Australian Property Journal
