21st Mar 2014 07:29
LONDON (Alliance News) - Balfour Beatty PLC said Friday its Dubai-based joint venture has won a GBP214 million contract in downtown Dubai for the expansion of the world's largest shopping centre, the Dubai Mall.
The FTSE 250-listed infrastructure group said its subsidiary, Dutco Balfour Beatty has be awarded the contract for Emaar Properties PJSC.
Balfour's contract for expansion works to the Dubai Mall - the world's largest shopping mall - comes six years after Dutco Balfour Beatty completed its original construction, and will involve construction of a new 'Fashion Avenue' in between the existing Dubai Mall and the world's tallest building, the Burj Khalifa.
Company projection suggest that the extension will allow the Mall to increase its annual capacity to over 100 million visitors.
"The Middle East is a growth region for the Group and we are very pleased to continue our partnership with Emaar Properties on the development of downtown Dubai which builds on the original construction of the Dubai Mall," Balfour Beatty CEO, Andrew McNaughton.
Dutco Balfour Beatty will also provide additional access bridges, parking facilities, and coordination with new and existing tenants, said the company. BKGulf, Balfour's partner in the Dutco joint venture, will provide mechanical and electrical services on the project, using its in-house pre-fabrication facility to manufacture mechanical, electrical and plumbing modules off site, said Balfour.
Balfour said the project is set for completion in early 2016.
Shares in Balfour Beatty last traded at 282.4 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
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