ASX Company News: Leighton To Build Largest Hotel In Middle East

February 22nd, 2012

Habtoor Leighton Group (HLG), a subsidiary of Leighton (LEI) has been awarded a US$515 million (AED1.9 billion) contract by the Al Habtoor Group as part of the US$1.33 billion (AED4.875 billion) Habtoor Palace hotels development in Dubai. Under the agreement, HLG will be responsible for the construction of what will become the largest integrated hotel complex in the Middle East, comprising a five-level podium, one 36-storey tower and one 25-storey tower within a total GFA of 350,000 square metres. The development will include 1,600 hotel rooms, spread between three hotels (lifestyle, luxury and main) An iconic Las Vegas-style ‘aqua’ theatre; A French provincial-inspired garden; Food and beverage venues. The new development will be located on the site of the existing Metropolitan Hotel – Dubai’s oldest hotel – on Sheikh Zayed Road at the southernmost point of the “Old Town” development, which includes the Burj Khalifa and the Dubai Mall.

HLG CEO and Managing Director, Mr Laurie Voyer, said he was delighted to have reached agreement with the Al Habtoor Group on such a large-scale project. “We have successfully completed a number of projects for the Al Habtoor Group in the past – including the Habtoor Grand and Metropolitan Hotels – and have always maintained a good working relationship with them. “We look forward to working with them again to create a development that will be a landmark for not only Dubai, but the entire Middle East.

Leighton Group (HLG) is one of the leading diversified international contractors in the Middle East and North Africa. The Group operates in the UAE, Qatar, Kuwait, Saudi Arabia, Oman, Bahrain and Afghanistan. HLG is part of the Leighton Group, Australia’s largest project development and contracting group with annual revenues exceeding US$18 billion.

www.leighton.com

http://www.traderdealer.com.au/fundamentals/lei

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