Cramer Media reported that South African construction firm Murray & Roberts and JV partner Al Habtoor have been awarded a AED 1.8 billion contract in Abu Dhabi.
The companies would construct the St Regis Hotel and Residences on Saadiyat Island for the Tourism Development and Investment Company,.
The contract would start next month and would be completed in 2011.
M&R has lost a number of contracts in the Middle East this year, with the company and Al Habtoor withdrawing from a contract to build the Dubai International Airport Concourse 3. The JV had also lost a contract to build the Tameer Towers project in Abu Dhabi.
M&R previously said that the value of project lost in the Middle East stood at ZAR 10 billion. Last month, the company reported that it had an order book of ZAR 42 billion.
(Sourced from Cramer Media)
