{"id":48344,"date":"2017-03-17T00:46:01","date_gmt":"2017-03-16T17:46:01","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=48344"},"modified":"2017-03-16T22:08:13","modified_gmt":"2017-03-16T15:08:13","slug":"salini-impregilo-lands-435m-contract-to-build-dubais-meydan-one-mall","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/salini-impregilo-lands-435m-contract-to-build-dubais-meydan-one-mall\/","title":{"rendered":"Salini Impregilo lands $435m contract to build Dubai's Meydan One Mall"},"content":{"rendered":"


\nThe Italian contractor Salini Impregilo said on Thursday it won the US$435 million contract to build the new Meydan One Mall in Dubai, for which a groundbreaking ceremony was held on Wednesday evening. The contractor said that it would be responsible not only for building the mall but also some of the substructures and superstructures for neighbouring elements, including both the foundations and concrete support structures for the 1 kilometre-long indoor ski slope that will be built above it. The Italian builder said that two metro lines will pass underneath the mall, including an extension of the Green Line connecting it to Dubai International Airport.The work is expected to take 23 months to complete. Salini Impregilo has worked on a number of important projects in the Middle East, including the construction of the Sheikh Zayed Grand Mosque in Abu Dhabi. Currently, it is part of a consortium delivering a \u20ac3.72 billion (Dh14.6bn) contract for line 3 of the Riyadh Metro, for which tunnelling work finished last month. Last June, its joint venture with Turkey’s Limak Holding landed a $1bn infrastructure contract for the new South Al Mutlaa city project in Kuwait, where 30,000 new homes are planned, and in December its subsidiary Lane Construction Corp was part of a partnership that landed a $125m contract at Al Maktoum International Airport. Salini Impregilo said the Meydan One Mall contract takes the level of projects secured since the start of this year to \u20ac1.7bn. On Wednesday, it announced a 37 per cent increase in net profit last year to \u20ac120.2m as revenue edged up by 1.2 per cent to \u20ac6.1bn. It also said that Middle East projects comprise 13 per cent of its \u20ac29.4bn pipeline.Although much of the Middle East’s construction market remains subdued, the Dubai market has been buoyed by clients looking to complete projects before the start of the Expo in October 2020. Last month, British construction and infrastructure support services company Carillion announced a Dh2.2bn contract win from the Expo organising committee, which in January said it would award Dh11bn of construction contracts this year. Jason Tuvey, an economist with London-based Capital Economics, said that the scale of new contracts being announced suggested that “having been the most proactive of the Gulf economies in terms of fiscal consolidation, the [UAE’s] authorities are finding some scope to loosen the purse strings”. “This should support a recovery in the UAE’s non-oil economy over the coming quarters,” Mr Tuvey said. He expects the UAE’s economy will grow 2.5 per cent this year, up from around 2 per cent last year.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Salini Impregilo lands 5m contract to build Dubai’s Meydan One Mall<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Italian contractor Salini Impregilo said on Thursday it won the US$435 million contract to...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-48344","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-czK","jetpack-related-posts":[{"id":51384,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/azizi-awards-dh1-7bn-worth-of-contracts-to-build-apartment-blocks-at-meydan-one\/","url_meta":{"origin":48344,"position":0},"title":"Azizi awards Dh1.7bn worth of contracts to build apartment blocks at Meydan One","date":"April 9, 2017","format":false,"excerpt":"\r Azizi Developments has awarded two contracts at Meydan One in Dubai to build 35 new apartment blocks worth a total of Dh1.7 billion.The company, which bought 186 plots at Meydan One in February from the master developer Meydan, said the land it has bought has been amalgamated into sites\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18882,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/carillion-wins-five-year-a240-million-extension-to-petroleum-development-oman-maintenance-contract\/","url_meta":{"origin":48344,"position":1},"title":"Carillion wins five-year, \u00c2\u00a3240 million extension to Petroleum Development Oman maintenance contract","date":"July 6, 2016","format":false,"excerpt":"\r The UK contractor Carillion has announced that it has won a five-year, \u00c2\u00a3240 million (Dh1.1 billion) extension to a facilities management contract being carried out for Petroleum Development Oman (PDO).The company, which operates as Carillion Alawi in Oman, has been working for PDO for three years, providing facilities management\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":157591,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-real-estate-diriyah-awards-600m-contract-for-retail-hub-as-project-hits-26bn-milestone\/","url_meta":{"origin":48344,"position":2},"title":"Saudi real estate: Diriyah awards $600m contract for retail hub as project hits $26bn milestone","date":"July 14, 2025","format":false,"excerpt":"\r Salini Saudi Arabia to build 73 Najdi-style buildings across 365,000 sqm as part of flagship Diriyah Square development\r \r Source : arabianbusiness.com\r Read more...Saudi real estate: Diriyah awards 0m contract for retail hub as project hits bn milestone","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/07\/Diriyah-Square-saudi-real-estate-1000x666-1.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":48210,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/work-set-to-start-on-dubais-meydan-one-mall\/","url_meta":{"origin":48344,"position":3},"title":"Work set to start on Dubai's Meydan One mall","date":"March 16, 2017","format":false,"excerpt":"\r A groundbreaking ceremony was held at the 40.4 million-square-foot Meydan One site on Wednesday evening to mark construction of the project's retail mall situated between the existing Meydan racecourse site and Al Khail Road.The new mall will contain about 620 shops, including a pair of department stores and a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39103,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/meydan-raises-dh1-billionn-to-get-projects-moving-ahead-of-expo-2020\/","url_meta":{"origin":48344,"position":4},"title":"Meydan raises Dh1 billionn to get projects moving ahead of Expo 2020","date":"December 28, 2016","format":false,"excerpt":"\r The Dubai-based developer Meydan has raised Dh1 billion through a new Islamic financing facility and plans to use it to develop current and future projects, including Meydan One at Mohammed Bin Rashid City and its project on the banks of the extended Dubai Canal.The funding was arranged by Abu\u2026","rel":"","context":"In "Property 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