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English news

27-Oct-2016

DIFC awards AED500mn Gate Avenue development contract

Dubai International Financial Centre (DIFC) has awarded the local/Australian Habtour Leighton Group the AED500mn (USD136mn) contract to build its Gate Avenue development. Located in the DIFC district, the 61,000 sqm 880m long retail centre will connect existing buildings at DIFC, as well as future developments. There will be 150 retail outlets in the centre (previously known as the Retail Spine). Completion is expected by the end of 2017. Contractors submitted bids for the contract in August. DIFC appointed local contractor Alec as the contractor for a preparatory works contract over the summer. DIFC also awarded local contractor Khansaheb Civil Engineering an estimated AED140mn contract to build the Gate Village 11 building earlier this year. (MEED)

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