Carillion Joint Venture Secures £550 million Contract in Abu Dhabi

Middle East company, Al Futtaim Carillion, has signed a £550 million contract with ALDAR to deliver the prestigious Al Muneera development in Abu Dhabi.

Al Muneera forms a key part of ALDAR’s £10 billion Al Raha Beach development. The contract involves the provision of a 14-storey office building, sixteen apartment buildings of between 11 and 14 floors, 148 town houses and 11 luxury villas facing the development’s canal and waterfront.

Al Futtaim Carillion will have a peak workforce of some 7,000 people engaged in the construction of the Al Muneera development, which is already in full swing and due for completion in April 2011.
This is Al Futtaim Carillion’s second major project for ALDAR in Abu Dhabi, having been awarded a £250 million contract for the Marina Hotel on Yas Island, in June 2008.

Commenting, Carillion Chief Executive, John McDonough, said: “Over the last 35 years, Al Futtaim Carillion has established a strong reputation for delivering high quality projects for blue-chip and Government customers. Our selection for this prestigious project further enhances that reputation.

“We look forward to working closely with ALDAR on the Al Muneera project and to developing a strong, long-term relationship to support delivery of the substantial programme of developments that ALDAR has in Abu Dhabi over the next ten years.

“As the enormous growth we have seen in Dubai over recent years slows down, we expect strong growth in Abu Dhabi to keep us on track to achieve our objective of broadly doubling Carillion’s share of revenue from our joint venture businesses in the Middle East from £337 million in 2007 to around £600 million by the end of 2009.”