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Leighton JV secures £2.4bn Pearl Dubai contract

Dubai-based developer Pearl Dubai has awarded a £2.4 billion construction contract to a UAE joint venture of Australia's Leighton Holdings.

The deal with the Al Habtoor Leighton Group was described by the developer as a “strong commitment to UAE economy”.

The Pearl Dubai development will cover about 1.4 million sq m, including four 73-storey towers and a hotel.

The group said the deal was the largest single contract of its kind in the Gulf Arab region.

Chairman Abdul Majeed Ismail Al Fahim added: “While these are challenging times, Dubai Pearl’s confidence in the robustness of Dubai’s real estate sector remains high.”

He said the Al Habtoor Leighton Group had been selected for its “commitment to Dubai Pearl’s vision of quality and in line with our pledge to deliver an international landmark”.

The contract includes structural and civil works, MEP (mechanical, electrical and plumbing), finishes, landscaping and internal infrastructure.

Construction is due to begin in January.