18th Mar 2014 09:22
LONDON (Alliance News) - Carillion PLC Monday said its joint-venture business in the United Arab Emirates has been awarded a GBP61 million contract by the Dubai World Trade Centre to develop the first phase of the Dubai Trade Centre District.
The joint venture, Al Futtaim Carillion, will develop an eight-storey office building and a 588-room business and tourism hotel at the 146,000 square metre site which is situated between the current Dubai International Convention and Exhibition Centre and Emirates Towers.
Work is expected to start in April and is scheduled for completion in the third quarter 2015.
The contract comes just weeks after Al Futtaim Carillion was awarded a GBP110 million contract by Aabar Properties to build a five-star Hard Rock Hotel in Abu Dhabi.
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Carillion shares were trading at 355.60 pence Tuesday morning, up 1.10 pence or 0.3%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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