Habtoor Leighton Group awarded $136mn Gate Avenue contract

Habtoor Leighton Group (HLG) has been awarded the AED 500mn ($136mn) contract for Gate Avenue at DIFC, meaning construction and land preparation can get underway for one of the biggest property projects in Dubai.

Gate Avenue at DIFC is already worth AED 450mn approximately with the existing truck tunnel and master plan infrastructure in place.

Combined with the new contract, this will elevate the full development cost to an estimated AED 1bn, reflecting the size, scope and ambition of this major project.

Nabil Alkindi, Executive Vice President of Property Development said: “Gate Avenue at DIFC is a highly ambitious project that is seeing the Centre develop from a leading financial hub into a prominent lifestyle destination by changing the face of urban development in the region.

“Bringing Habtoor Leighton Group on board as our primary construction partner moves the project into its active development phase and we are excited to see the project physically take shape in the coming months. Gate Avenue at DIFC will connect our vibrant and dynamic community of over 21,000 professionals, as well as residents and visitors, in one central location.”

Set for the first phase of completion by the end of 2017, Gate Avenue at DIFC will heighten connectivity of the entire district.

With over 200 dining, boutique, retail and entertainment options, as well as a new mosque, Gate Avenue at DIFC will span across 660,000 square feet and 880m in total length.