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FINANCIAL NEWS
Dohaland grants $429m contract to Korean consortium
26 Apr 2010
(MENAFN) A statement issued by Dohaland said that Qatari developer has granted a $428.8 million pact to a consortium led by South Korea’s Hyundai Engineering and Construction Co., Reuters reported.
The contract is part of the first phase of Dohland’s $5.5 billion, 35-hectare Musheireb project, which is planned to include hotels and retail, residential and government buildings.
The project is slated to be completed in five phases, with the first phase due to be finished by 2012 and the last by 2016, the statement said.
The contract is the final in a total of $606 million worth of contracts awarded for the construction of Phase 1A of the project, which will include setting up a national archive, according to the statement.
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