Carillion joint venture nabs £160m contract for development in Dubai's central business district

 
Francesca Washtell
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The Growing Economy Of Dubai
Carillion is capitalising on Dubai's continued construction push (Source: Getty)

A Carillion joint venture has bagged a £160m contract to build a real estate development in the heart of Dubai's central business district.

Al Futtaim Carillion has been awarded a contract by the Dubai World Trade Centre to deliver the latest phase of real estate development One Central, located between the Emirates Towers and Dubai International Convention and Exhibition Centre. This takes the joint venture’s total contracts for the site to £400m.

The contract will begin this month and is scheduled to be completed at the end of 2018.

Read more: Carillion shares rise as it seals £350m deal with Nationwide

FTSE 250-listed Carillion has four main branches, including support services divisions, Middle East construction services and public private partnership projects.

Last month, it said it is on track to meet full-year expectations, with strong growth in revenue and profit in 2016, but warned that the impact of the EU referendum and prolonged low oil price hit its order book in the second half.

Read more: Carillion boosted by tie-up with British Gas owner Centrica

Carillion chief executive Richard Howson said: "We are delighted to have been selected for Phase 1A6, the third phase of the One Central development, where we continue to see good opportunities coming to market for which our capabilities and reputation for delivering to high standards of quality, safety and reliability are important to customers.

"We look forward to continuing our close relationship with Dubai World Trade Centre to deliver this important development."

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