Habtoor Leighton Group has won a contract to build part of a Dh3 billion marina development on Dubai's Creek
The UAE unit of Australia's biggest builder was awarded a Dh480 million contract on the 'Jewel of the Creek' development by Dubai International Real Estate.
The 123,955 square-meter development will include four and five-star hotels as well as a convention centre and a marina, Leighton Group said in a statement to the Australian stock exchange.
The contract award represents an encouraging sign for a contractor that has had a challenging six months in the region after disclosing it had encountered payment collection issues on some its contracts. It reported a A$153.9 million (Dh608.6m) loss in the Middle East and Africa in the six months ending December.
The creek project is expected to be completed by August 2013.
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