CIMIC SCORES $177 MILLION DUBAI ENTERTAINMENT PROJECT

CIMIC SCORES $177 MILLION DUBAI ENTERTAINMENT PROJECT
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.

Get our daily business news

Sign up to our free email news updates.

 
Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Nick Scali shares reach all-time high following UK expansion plans

Nick Scali shares reach all-time high following UK expansion plans

Nick Scali’s (ASX: NCK) plans to expand into the UK have...

Super Retail Group to face court over allegations of undisclosed exec relationship, bullying

Super Retail Group to face court over allegations of undisclosed exec relationship, bullying

The board of Super Retail Group (ASX: SUL) has announced today that...

Aussie-founded sleep device giant ResMed sees profit lift 29pc

Aussie-founded sleep device giant ResMed sees profit lift 29pc

Shareholders backing Australian-founded, California-based sleep med...

“Difficult decision”: Atlassian co-CEO Scott Farquhar to step down

“Difficult decision”: Atlassian co-CEO Scott Farquhar to step down

After 23 years as co-CEO of Sydney-headquartered software giant Atl...