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FINANCIAL NEWS
UAE’s DIRE, Habtoor Leighton in USD130m deal
28 Feb 2012
(MENAFN) Dubai International Real Estate (DIRE) said that it inked a USD130 million deal with Habtoor Leighton Group (HLG) to develop the “Jewel of the Creek” project in Port Saeed, Dubai, reported Emirates 24/7.
The company added that the agreement would include the construction and completion of the substructure works for 4 basement levels and ground floor slabs on the waterside site between Al Maktoum Bridge, Baniyas Road and the Floating Bridge.
It also said that when finished, the USD816 million development would consist of four and five star hotels, furnished service apartments, a convention center, a ballroom, office buildings, residential buildings, a marina and landscaping.
It is worth noting that the “Jewel of the Creek” development is expected to finish in August of next year.
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