Real estate developer Pearl Dubai has awarded a $2.4-billion contract for the construction of its Dubai Pearl project to the Al Habtoor-Leighton Group, the UAE’s largest construction group.

The deal is the largest single of its kind in the region and arguably one of the largest in the world for a real estate project. Construction is due to begin next month.
“While these are challenging times, Dubai Pearl’s confidence in the robustness of Dubai’s real estate sector remains high. This deal underlines our strong commitment to the UAE economy and puts us in a unique position to make a significant contribution to the real estate sector,” said Abdul Majeed Ismail Al Fahim, chairman of Pearl Dubai.
With a built-up area of more than 15 million sq ft, Dubai Pearl will be a world-class destination overlooking the Dubai coast.
The contract’s main components cover structural and civil works, MEP (mechanical, electrical and plumbing), finishes, landscaping and internal infrastructure.
Earlier this year, Dubai Pearl had invited leading international and regional contracting companies to bid for the project.
David Savage, managing director of the Al Habtoor Leighton Group, said that the combined strength of Al Habtoor and Leighton was a key factor in securing the project.
Combining an active business district with a quality urban lifestyle, Dubai Pearl will offer easy access to New Dubai’s premium commercial and residential areas such as Dubai Media City and Dubai Internet City, as well as the Palm Jumeirah.
The development will feature an iconic building comprising four 73-storey mixed-use towers, world-renowned fashion and technology brands, the Baccarat Hotel and Residences, and will provide a 24-hour city with commercial, retail, residential and leisure facilities.
The project will include luxury hotel brands, a 2,000-seat state-of-the-art theatre, and a luxury fashion precinct with a premier mall as well a walkable environment representing one of the most unique facets of the development.