Abu Dhabi development deal

Middle Eastern engineering group Al Futtaim Carillion has secured a £550m contract with ALDAR to work on its £10bn development plans in Abu Dhabi.

According to the company, the deal will create 7,000 jobs during peak construction and will include the manufacture of 16 apartment buildings, 148 town houses, 11 luxury villas and a 14-storey office building as part of ALDAR’s Al Muneera development. Work is already under way and is scheduled for completion in April 2011.

Speaking of the opportunities in the region, John McDonough, Carillion chief executive, said: ‘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 £337m in 2007 to around £600m by the end of 2009.’

The project will be Carillion’s second major contract with ALDAR in Abu Dhabi, after been granted a £250m contract for the Marina Hotel on Yas Island last year.