Al Habtoor Leighton aims for more than $3 billion in revenue in 2008

Al Habtoor Leighton aims to generate US $3.2 billion (AED 12 billion) in revenue in its first year as a new entity.

Al Habtoor Leighton aims to generate US $3.2 billion (AED 12 billion) in revenue in its first year as a new entity.

The company was formed last September when the local Al Habtoor Engineering merged with Australia's largest construction firm Leighton Holdings.

Most of its revenue for 2008 will come from major real estate projects as well as in the road and rail infrastructure, oil and gas and marine engineering sectors.

"We have a long list of prospective projects, most of which we are confident of securing," said Chris Gordon, general manager, corporate affairs and strategy, Al Habtoor Leighton Group.

"We'll be aiming to achieve revenue in 2008 of around $3.2 billion."

Leighton Holdings paid an estimated $870 million for a 45% stake in Al Habtoor Engineering as a way of expanding its presence in the Middle East.

Up until the merger, the company's projects in the region included the construction of a  $518 million equestrian centre in Qatar; a $63 million contract won in joint venture with Kier International for roads and infrastructure works at the City of Arabia project in Dubailand and a $550 million highway contract in Abu Dhabi.

"Al Habtoor and Leighton complement each other," added Gordon.

"Al Habtoor was looking to continue to grow its business, and Leighton provided a broad range of different capabilities - particularly in large-scale infrastructure.

"Leighton is also very strong financially - the group has one of the strongest balance sheets of any construction firms in the world."

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