June 13, 2008
AL Habtoor Leighton, Leighton Holdings' Middle East operation, has clinched an $842 million contract to build the first Trump International Hotel & Tower in Dubai.
Artist's impression of Trump Tower to be built in Dubai.
Al Habtoor Leighton will jointly undertake the construction with South African-based contractor, Murray and Roberts, in a 50-50 joint venture.
Both Leighton and Al Habtoor had previously worked with Murray and Roberts in the Gulf.
This is the first contract that Al Habtoor Leighton has won from the developer, Nakheel Group, one of the largest development companies in the Gulf region.
A Leighton spokesman said yesterday that this could be the forerunner of several other contracts from Nakheel.
"We are talking to them on several large projects, most of which will have a hotel component," said the spokesman. The project will be located on the man-made Palm Jumeirah. It will be a "high-end, mixed use development" offering hotel and residential facilities. It will revolve around a 62-storey structure, housing some 250,000sqm of built-up area.
Trump International Hotel & Tower Dubai is the only planned mixed-use development in Dubai under the Trump name (after Donald Trump, the property tycoon). Since January, Al Habtoor Leighton has won $US2 billion ($2.11 billion) worth of contracts in the Gulf region and expects to win other contracts before the end of the year.
"We are currently pursuing several billions' worth of work," said the spokesman.
Leighton ramped up its operations in the rapidly growing Gulf region when it purchased a 45-per cent stake in the Dubai-based Al Habtoor Engineering group for $870 million last September.
It has since sold its Gulf operations into the Al Habtoor joint venture.
Al Habtoor Leighton employs between 30,000 and 35,000 workers in the region.
