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Balfour Beatty awarded £400 million Burj Mall Retail Development in Dubai

Balfour Beatty, the international engineering, construction and services group, announces today that Dutco Balfour Beatty, its jointly owned construction business in the United Arab Emirates, with Al Ghandi /CCC have won the £400 million contract to build the Burj Mall retail development in Dubai, the world’s biggest shopping centre.

Commenting on the contract, Balfour Beatty Chief Executive, Mike Welton, said: “Balfour Beatty has been working in Dubai for over 25 years and we are strongly committed to the Dubai market as part of our growth strategy for the future. We are delighted to win this major contract which is testimony to our market-leading position in the region and our track record of delivering significant projects on time and to budget.”

The Burj Mall is being developed by the largest and most successful Dubai-based developer, EMAAR Properties. It will incorporate 1.3 million square metres of shopping space over four floors and will include the world’s largest gold souk and atrium with a three-storey aquarium. It is anticipated that the mall will attract 50,000 shoppers at peak time.

The centre will be part of a major new complex, including the 700 metre Burj Tower, which will be the world’s tallest tower, and the centrepiece of the Gulf region’s most prominent urban development to date.

Construction will commence in November 2004 and is scheduled to be completed at the end of 2006. Dutco Balfour Beatty will execute the contract in partnership with Al Ghandi/CCC.

Enquiries to:

Tim Sharp
Tel: 020 7216 6884

www.balfourbeatty.com

Notes to Editors

1. Balfour Beatty has been operating in Dubai since 1977. Dutco Balfour Beatty, its civil engineering joint venture, has completed major heavy civil engineering projects including power stations, roads, bridges, reservoirs, high-rise and speciality buildings, airport infrastructure projects and port developments. Notable projects include:
   • The US$4 billion Jebel Ali Port project for the government of Dubai
   
   
   • Civil works at Dubai International Airport, including airport access roads and parking
   
   
   • Civil and marine works, and electro-mechanical works with BK Gulf for the Burj Al Arab Hotel
   
   
2. Balfour Beatty is a world-class engineering, construction and services group, well positioned in infrastructure markets which offer significant growth potential. Its partnerships with public and private customers generate secure, long-term income. Its financial position, with significant net cash and with strong operating cash flows, offers continuing flexibility to add additional capacity and expertise to the business mix and to make appropriate investments in PPP/PFI and other long-term growth opportunities.