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HOCHTIEF Further Expands its Business in the Strong Gulf States - Habtoor Leighton Group to build a mixed-use development in Qatar and expand a highway in Oman for almost EUR 433 million - HOCHTIEF.com
HOCHTIEF Further Expands its Business in the Strong Gulf States

 

PRZOOM - /newswire/ - Essen, Nordrhein-Westfalen, Germany, 2011/10/12 - Habtoor Leighton Group to build a mixed-use development in Qatar and expand a highway in Oman for almost EUR 433 million - HOCHTIEF.com.

   
 
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Via its Group company Habtoor Leighton Group, HOCHTIEF strengthens its business in the Arabian Gulf countries. The company in which the HOCHTIEF subsidiary Leighton has a 45 percent share won new contracts in Qatar and Oman for a combined total of EUR 432.7 million. The two projects - a shopping mall with office space, and a highway - continue the Group‘s series of large-scale contracts in the Gulf region.

In Qatar’s capital Doha, the Habtoor Leighton Group is to construct Phase 1 of the North Gate Mall and Office Buildings for EUR 212.7 million (USD 290 million). Upon completion in March 2014, the shopping mall and office complex will comprise two carpark levels, a three-level mall and six five-level office buildings. Construction will commence immediately. In Oman, the company will expand a section of the Bidbid-Sur highway in a joint venture. The 75-kilometer road section will be expanded to a four-lane dual carriageway. The project also includes the construction of nine interchanges and 50 kilometers of service roads. Works on the EUR 220 million (USD 300 million) contract have already started and are expected to be completed by 2014. The share of the Habtoor Leighton Group is 50 percent.

Oman - just like Qatar - counts among the strong nations in the Gulf region. The national government has announced that it intends to spend almost EUR 15 billion (USD 20 billion) on upgrading the country’s infrastructure in the next five years. HOCHTIEF has had a presence in Oman via the Habtoor Leighton Group for some years already and is very well positioned.

About HOCHTIEF AG

HOCHTIEF (hochtief.de / hochtief.com) is one of the leading international providers of construction-related services. With more than 70 000 employees and a sales volume of EUR 20.16 billion in FY 2010, the company is represented in all the world‘s major markets. The Group's service offering in the fields of development, construction, services, concessions and operation covers the entire life cycle of infrastructure projects, real estate and facilities.

In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner and, with Group company Flatiron, ranks among the most important players in the field of transportation infrastructure construction. With its subsidiary Leighton (HOCHTIEF share around 55 percent), the Group is market leader in Australia. Because of its engagement for
sustainability, HOCHTIEF has been listed in the Dow Jones Sustainability Indexes since 2006.

 
 
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Agency / Source: HOCHTIEF AG

 
 

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HOCHTIEF Further Expands its Business in the Strong Gulf States

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HOCHTIEF AG |
Contact: Christian Gerhardus - HOCHTIEF.de 
+49 201 824-2642 presse[.]hochtief.de
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any HOCHTIEF AG securities in any jurisdiction including any other companies listed or named in this release.

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