Construction in Dubai still going strong

Al Habtoor Leighton has won three major contracts worth Dh16.75bn in less than a month, pushing the company’s orderbook to Dh30bn according to Gulfnews. The company has so far seen little impact of the global financial crisis, and the orderbook reflects the reality in the construction sector, defying the slowdown in construction projects.

The latest contract involves construction work on Dubai International Airport’s Concourse 3 at a cost of Dh4.9bn. This contract is awarded to Al Habtoor Leighton only two weeks after Al Habtoor Leighton and Pearl Dubai FZ LLC signed a letter of intent for the Dh8.85bn Dubai Pearl.

Al Habtoor to construct Dubai Pearl

Pearl Dubai has awarded a Dh 8.85bn contract to Al Habtoor Leighton Group for the construction of the Dubai Pearl-project, located next to Palm Jumeirah. This contract the largest single contract in the region, and makes Al Habtoor the main contractor of Pearl Dubai covering components such as structural works, civil works, and internal structure. The construction work is expected to start January 2009.

“ While these are challenging times, Dubai Pearl’s confidence in the robustness of Dubai’s real estate sector remains high. This deal underlines our strong commitment to UAE economy and puts in a unique position to make a significant contribution to the real estate sector,”

said Abdul Majeed Ismail Al Fahim, Chairman, Pearl Dubai FZ LLC.

 

The development will feature an iconic building structure comprising of four 73-storey mixed-use towers, world-renowned fashion and technology brands, the Baccarat Hotel and Residences and will provide a 24-hour living city with commercial, retail, residential and leisure facilities.

The project will include luxury hotel brands, a 2000 seat state-of-the-art theater, a luxury fashion precinct with a premier shopping mall as well a walkable environment representing one of the most unique facets of the development.

Press release