HABTOOR Leighton Group (HLG) has secured a contract from the Al Habtoor Group worth Dh1.45 billion ($395 million) for the construction of the residential towers component of the mega Dh11-billion ($3 billion) Al Habtoor City development in Dubai.

The residential towers component, located immediately adjacent to the proposed Business Bay creek extension (Dubai Water Canal), comprises two 75-storey and one 52-storey residential buildings as well as a seven-storey podium including basement, ground floor and five floors of retail and parking.

On an adjacent site, HLG is currently constructing the Dh1.9-billion ($515 million) Al Habtoor City hotel development, which will be the Middle East’s largest integrated resort when it is completed in 2016.

HLG CEO and managing director José Antonio López-Monís said the contract continues a long and successful relationship with the Al Habtoor Group.

“We’ve successfully delivered numerous major projects for the Al Habtoor Group in the past, and this project further demonstrates the confidence Khalaf Al Habtoor (chairman of Al Habtoor Group) has in HLG.

“We’re delighted to be selected to build what will be one of Dubai’s most prestigious and recognisable developments,” he said.

Lopez-Monís said the recent announcement that Dubai would host World Expo 2020 would provide a boost to the Dubai construction market.

“We have an optimistic view on the Dubai construction market and anticipate a significant increase in building and infrastructure opportunities over the next few years,” he said.

HLG’s associated business HSSG is currently undertaking the enabling works for the project. The total value of construction, including consultant costs and piling but excluding interior fit-out and furniture, is Dh1.62 billion ($441 million). Construction will commence as soon as enabling works are completed and the main project will be completed 32 months later.