Al Habtoor JV wins major Saadiyat Island deal
TDIC hands out US $491mn contract, project due for completion in 2011
Joint ventre Al Habtoor – Murray & Roberts has signed a contract with Abu Dhabi’s Tourist Development and Investment Company (TDIC) to develop a major resort on Saadiyat Island.
Onsite work on the St Regis Hotel and Residences will commence in August, and the project is due for completion in 2011.
The resorts includes 380 rooms, 250 apartments and 33 villas, alongside retail and entertainment space, a health club and 1,600 structured parking bays.
“We are pleased to have secured such a project on Saadiyat Island,” said an unnamed spokesperson for the Al Habtoor – Murray & Roberts joint venture.
“It was easy to recognise the significance of the Saadiyat Island project, which is primarily what fuelled our interest in the opportunity. We recognise the St Regis Hotel and Residences as a flagship project on Saadiyat Island and value the opportunity to collaborate in this resort with TDIC.
“This award shows the Abu Dhabi market remains buoyant and we are ideally placed to take advantage of the opportunities in this market,” the spokesperson added.
Last week, Construction Week reported that TDIC had a series of 'huge' infrastructure contracts that it was planning to tender in the third quarter of this year.