22nd May 2014 07:44
LONDON (Alliance News) - Carillion PLC said Thursday that the company and its joint venture business, Al Futtaim Carillion, have signed, or have been chosen as the preferred bidder for, contracts in the United Arab Emirates and the Kingdom of Saudi Arabia, worth over GBP400 million.
The integrated support services company said Al Futtaim Carillion has signed contracts to build two major luxury hotels in Dubai that together are worth approximately GBP300 million.
The project for Phase 1V of the Madinat Jumeirah Resort project includes construction of a luxury 435-room hotel resort for the Dubai-based hotel company Jumeirah Group. The construction of both hotels will begin shortly and are scheduled for completion in 2016, said Carillion.
Also, the FTSE 250-listed company said it has signed contracts in Dubai and Saudi Arabia in the healthcare, retail, leisure and residential sectors.
"These latest contract successes continue to reflect the improving outlook in most of our Middle East markets. This includes Dubai, where we continue to see clear signs of recovery with more opportunities coming to market for which our capabilities and reputation for delivering to high standards of quality, safety and reliability are important to customers," said Carillion Chief Executive, Richard Howson.
Shares in Carillion were trading 1.54% higher at 345.64 pence per share Thursday morning, one of the biggest gainers on the FTSE 250.
By Alice Attwood; [email protected]; @AliceAtAlliance
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