Al Habtoor Leighton wins Esplanade deal

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Al Habtoor Leighton now has over US $4.6 billion worth of work in hand.

Al Habtoor Leighton has bagged a US $422 million (AED1.55 billion) contract for the construction of the mixed-use Esplanade project in Dubai. The client is Muzoon Holdings.

Construction on the project will commence in June and will be completed by June 2011.

The Esplanade, which will be located in Al Barsha opposite the Mall of the Emirates, will include five residential towers, two five-star hotels, one commercial tower, one tower featuring a health club and spa, a car park and podium for retail and offices, and water features and landscaping.

David Savage, managing director of Al Habtoor Leighton Group said: "Muzoon Holdings was looking for a contractor that was able to deliver a quality project, within a tight time-frame in a relatively stretched market.

The new contract takes the value of Al Habtoor Leighton's work in hand to over $4.6 billion.

The company was established in September 2007 following the merger of Al Habtoor Engineering with the Arabian Gulf operations of Leighton International. Leighton International owns a 45% stake in the Group.

Leighton International is part of Leighton Group, an Australian development and contracting group with annual revenues exceeding $10 billion.

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