Hochtief signs record US$ 1.7 billion contract in Qatar
28 April 2009
Hochtief Construction has signed the biggest order in its history for the construction of the 8 km long Barwa Commercial Avenue scheme in Doha, Qatar. The € 1.3 billion (US$ 1.7 billion) shopping and residential complex is due for completion in mid-2012.
The client is Barwa Real Estate Company, which comprises private investors and the Qatar government, which has a 45% share. The complex is being constructed on Doha's southern edge and will comprise some 90 Ha of gross floor space - equivalent to about 110 football pitches.
Hochtief says the project is part of its strategy to work on more international projects. Hochtief Construction CEO Henner Mahlstedt said, "Intensified engagement in international growth markets is a key element of the restructuring we initiated in 2007."
Hochtief is also part of the consortium slated to construct the 40 km Bahrain-Qatar Causeway, the longest cross-border connection in the world.