Paris: Bouygues Construction, part of French conglomerate Bouygues, has won two contracts worth a total of 335 million euros ($402.1 million) in Dubai to build a hotel and metro line, the company said yesterday.
Bouygues's Batiment International unit, in a joint venture with Target Engineering Construction of Abu Dhabi, will build a Ritz-Carlton 5 star hotel for 225 million euros.
The VSL unit, specialised in constructing bridges, will begin building the Red Line suspended metro, which goes through Dubai.
This contract, worth 110 million euros, includes an option to build a second suspended Green Line metro, for an extra 20 million euros, Bouygues Construction said.
Bouygues shares were down 0.4 per cent to 43.73 euros by 1428 GMT.
For information on the real estate sector, within the UAE, please visit our sister site, GNProperty.com.