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.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

The cost of not communicating: How Whispir’s tailored messaging tech lifts engagement
Partner Content
While it is common for businesses to haggle with suppliers over small price differences...
Advertisement

Related Stories

Blackstone completes $8.9b takeover of Crown, its “largest investment to date in Asia”

Blackstone completes $8.9b takeover of Crown, its “largest investment to date in Asia”

The long-awaited and heavily-scrutinised takeover of casino and hot...

Administrators proffer alternative to liquidation for Probuild parent

Administrators proffer alternative to liquidation for Probuild parent

A Deed of Company Arrangement (DOCA) is the preferred way forward f...

Twiggy Forrest-backed intercontinental solar power project deemed ‘investment ready’

Twiggy Forrest-backed intercontinental solar power project deemed ‘investment ready’

The Australia-Asia PowerLink (AAPowerLink) project backed by the li...

Jetstar CEO to resign as Qantas Group recovery reaches cruising altitude

Jetstar CEO to resign as Qantas Group recovery reaches cruising altitude

Jetstar CEO Gareth Evans has today announced he will step down from...