CIMIC SCORES $177 MILLION DUBAI ENTERTAINMENT PROJECT
Written on the 3 November 2016
MIDDLE East-based contractor HLG, in which CIMIC Group has a 45% investment, has been awarded a contract with revenue of AED490 million (A$177 million) for the construction of the Gate Avenue at DIFC Project in Dubai, UAE, for Dubai International Financial Centre (DIFC).
Building on the existing DIFC Truck and Service Tunnel, Gate Avenue at DIFC extends from Marble Walk to Central Park Towers, a distance of around 880 meters.
The total built up area will be around 61,000sqm and consist of a reinforced concrete structure and a mosque spanning three levels, steel nodes with glass cladding, mechanical, electrical and plumbing works, finishing and cladding.The development will comprise more than 200 dining, shopping, cultural experiences and entertainment options.
CIMIC Group Chief Executive Officer Adolfo Valderas says, "HLG is pleased to\ have secured this premium entertainment project and further enhanced its relationship with DIFC."With HLG's excellent track record in the region, the company has a strong future and is well positioned to continue to deliver exceptional results for its clients."
Works will commence shortly. The first phase is set for completion by the end of 2017.
Cimic Group (ASX: CIM) is trading steady at $28.705 this morning.