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| Leighton buys stake in Al Habtoor Engineering Leighton Holdings Ltd, the parent company of Australia's largest project development and contracting group, announced that it was merging its Leighton International operations in the Arabian Gulf with Al Habtoor Engineering and acquiring a 45% stake in Al Habtoor – Leighton by investing approximately $870 million. Al Habtoor - Leighton will immediately become one of the region's largest multi-disciplined contractors. Al Habtoor Engineering will provide Gulf Leighton with a significant increase in capacity to enable both parties to fully capitalise on the numerous opportunities in the Arabian Gulf market, particularly in the United Arab Emirates. Al Habtoor Engineering has undertaken a substantial number of large-scale construction projects across the region, including high-rise commercial and residential buildings, hotels, airports, universities and infrastructure projects. It built Dubai’s iconic Burj Al Arab, the world’s tallest hotel, and is in the process of tendering for an additional $4 billion of work. write your comments about the article :: © 2007 Construction News :: home page |