L&T-Eastern JV bags Rs 610 crore order for Residential Building Project in Dubai

Larsen & Toubro Ltd (L&T) has announced that the Company and Eastern Contracting LLC (Eastern) Joint Venture has bagged an order (AED 557.5 Million) from Victory Heights Golf Residential and Development LLC, United Arab Emirates, to build a prestigious residential property in Dubai Sports City.

Victory Heights (a joint venture between two experienced partners, Dubai Sports City and Arcapita Bank - a Bahrain based Financial Institution) has undertaken the development of luxury Golf Residential community in Dubai Sports City. The development's 18-hole championship golf course is designed by renowned Golfer Ernie EIs.

The project is to be completed in 660 days from the date of commencement and involves construction of Package-2 of the villa development involving 295 grandeur villas of Ground + 1 configuration. The villas conforming to 11 different types of Mediterranean, Spanish and European styles of architecture, will be constructed in Carmen, Novelia, Calida and Morella Villages of Victory Heights.

The Company and Eastern Contracting LLC (a Bukhatir Group Company) - which undertakes a variety of turnkey and other construction projects in UAE - have formed a joint venture to execute this project. Eastern Contracting is one of the oldest and well known contracting Companies in the United Arab Emirates.

Source : Equity Bulls

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