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TDIC forms JV construction firm
ABU DHABI — Tourism Development and Investment Company (TDIC) has formed a joint venture construction company in partnership with a subsidiary firm of Australia's Gulf Leighton, to undertake mega projects.
TIDC owns 51 per cent of the new venture — TDIC-Leighton Contracting, which will undertake various construction contracts for TDIC developments, including the 6.5 kilometre Saadiyat Link road, to be built to connect Abu Dhabi's Shahama district to Saadiyat Island; the Eastern Mangroves Hotel; and the new TDIC headquarters being built adjacent to Maqta Bridge.
The agreement is expected to generate annual revenue from a minimum of $270 million in the first year, to a minimum of $1.4 billion in the fifth.
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