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UAE: Joint venture construction contract award for planned $382,000,000 residential complex,...

PROJECT OVERVIEW:

The local developer UNION PROPERTIES PJSC recently awarded a construction contract for a large residential complex in Dubai, dubbed Uptown Area 2, to UK-based CARILLION PLC. In so doing, the company will implement the project in joint venture with its local affiliate, AL FUTTAIM CARILLION.

AL FUTTAIM CARILLION, for that matter, has already been awarded a $75,000,000 infrastructure and landscaping contract in April 2006. The Uptown Area 2 construction project was scheduled to begin in November 2006. The undertaking involves the constructio

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