Al Habtoor Leighton, Al Faisal Holding settle Doha City Centre dispute | Al Habtoor Leighton, Al Faisal Holding settle Doha City Centre dispute -
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Al Habtoor Leighton, Al Faisal Holding settle Doha City Centre dispute

: Thursday, April 10 - 2014 @ 11:28

Al Habtoor Leighton, the Middle Eastern joint venture of Australia’s Leighton Holdings, has settled a long-standing dispute with Qatar-based business conglomerate Al Faisal Holding to recover money owed on a $347m expansion of the Doha City Centre shopping mall, The Age has reported. Al Habtoor Leighton reached ”an amicable” agreement with Sheikh Faisal bin Qassim Al-Thani, chairman and chief executive of Al Faisal, after he cashed $100m of performance bonds last year held as security for the construction of five hotel towers attached to the mall, Leighton said. ”The agreement includes the return of all the liquidated bonds which were called during May to July 2013 and agreement on the contract values for the associated completed and ongoing projects,” the company said.

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Thursday, April 10- 2014 @ 11:28 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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