Carillion and its joint venture in multiple contract award

22nd May 2014 08:34

Carillion's joint venture Al Futtaim has signed a deal to build two luxury hotels in Dubai. Together, the contracts are worth £300m and include the fourth phase of the Madinat Jumeirah Resort project that will involve the construction of a luxury 435-room hotel resort. Construction is due to begin shortly and is scheduled for completion in 2016. The agreements were classed as probable orders in the group's most recent interim management statement. Additionally, the joint venture and Carillion alone have landed contracts or been selected as the preferred bidder for a number of construction projects in Dubai and in Saudi Arabia in the healthcare, retail, leisure and residential sectors. Carillion' Chief Executive, Richard Howson, said: "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."NR