Top five global construction player checks into UAE market and lands DIFC hotel booking
Global construction giant Bouygues has touched down in Dubai with the contract to build the new Ritz Carlton Hotel at Dubai International Financial Centre (DIFC).
The company has negotiated a contract with developer Union Properties to build the new hotel, after tying up with a local joint venture partner.
The 330-room building will also include 121 serviced and managed apartments, and is due to open in 2008. It will be the second Ritz Carlton in Dubai and the fifth in the Middle East. The 15-storey building will include 2,000m2 of conference space and a 2,100m2 health club.
The French firm is in the top five of the world’s largest construction companies and its arrival in the UAE represents a significant addition to the top tier of big name contractors currently operating in the region.
The multi-disciplinary contractor has interest spanning telecoms, road building and mainstream building contracting. Earlier this month, the company announced profits of around US $1 billion, and it expects sales to reach $30 billion in 2006.
Paris-based Bouygues spokesman, Hubert Engelmann, declined to comment in detail on the award ahead of an announcement due to be made this week.
He said: “I can confirm that Bouygues has won the second Ritz-Carlton hotel contract in Dubai but we cannot make an official announcement until we gain approval from the client itself. We expect that to be the middle of next week.”
Ritz-Carlton hopes its latest addition in the region will attract business travellers visiting Dubai’s new financial hub, currently taking shape just off Skeikh Zayed Road.
DIFC has announced a string of new occupiers in recent months, including some major international finance groups, such as Morgan Stanley and Barclays Capital.