Dubai: Al Futtaim Carillion, part of the Al Futtaim Group, has won a contract to build Phase 1 of a retail strip — The Avenue, being developed by Meraas Development.
The Avenue is a three-phase project spanning 1.1 kilometres at a prime location in Dubai. Launched at Cityscape Dubai 2011, phase 1 of The Avenue will take shape at the intersection of Al Wasl Road and Safa Road.
Upon its completion in the third quarter of 2012, the 350-metre retail strip will include a dynamic mix of top retail brands as well as convenience stores and food and beverage outlets. The project's three phases will extend up to Shaikh Zayed Road.
The agreement was signed between Omar Delawar, Chief Technical Officer of Meraas, and Zafar Khan, Finance Director of Al Futtaim Carillion. Senior officials from Dewan Architects and Engineers, consultants to the project, also attended.
"Al Futtaim Carillion, a homegrown company, has overseen the development of many key projects in the UAE. Backed by their track record and experience, we are confident of shaping ‘The Avenue' into a distinctive project that will add a new dimension to Dubai's world-renowned retail landscape," a Meraas spokesperson said.
Meraas is a Dubai-based real estate company with operations and assets in the UAE and abroad. It operates with a mission to create integrated master-planned communities that embody global standards of sustainability and quality.
An Al Futtaim Carillion spokesperson said: "The prestigious contract demonstrates strong confidence in our capabilities. Our expertise, backed by decades of experience and support from our principals will enable our project teams to meet the highest levels of delivery standards at The Avenue."
Carillion expects UK demand for energy services and outsourcing
Support services and construction firm Carillion expects UK demand for energy services and outsourcing, plus increased spending on infrastructure overseas to drive its growth in 2012.
The firm, which maintains motorways, railways, military bases and telephone lines, said on Wednesday that its pipeline of contract opportunities had topped the £30 billion (Dh174 billion) mark, as large outsourcing deals at local authority level in Britain and infrastructure spending in Canada and the Middle East pile up.
"International growth in Canada and the Middle East is very important to us. When you look at the doldrums in Europe, compared with that, these countries are spending tens of billions on infrastructure," Chief Executive John McDonough told Reuters.
"We also have a very strong long-term order book in the UK. Local authority outsourcing pipeline is now filling very well and through 2012 and 2013 we will see that work coming to fruition."
McDonough confirmed last week's media reports that it had told 4,500 staff in its energy division that some will lose their jobs due to government plans to halve state subsidies for solar panel schemes. This business represents less than 1 per cent of Carillion's overall turnover.
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