Cimic subsidiary Leighton Asia has been awarded a contract for the construction of a luxury residential housing project in India. According to a statement from the construction company, which is part of the Spanish group ACS, the project will mean profits of 190 million Australian dollars (114 million euros) for the company.
The project is being developed by the Indian real estate group Elan in the town of Gurgaon, about 30 kilometers from New Delhi, and is known as “The Presidential.” In total, it will have about 487,000 square meters and eight towers of 32 floors each that will reach 116 meters in height.
The company has also noted that this is Leighton Asia’s largest residential real estate deal to date. The Cimic subsidiary started operating in India 25 years ago and will carry out the civil and structural works corresponding to the first phase of the project.
Design based on sustainability.
The project, whose construction will end in the first quarter of 2027, is based on environmental and energy designs, precisely cimic.
“Leighton Asia has a strong track record of delivering iconic residential and commercial projects in India that meet safety, quality and sustainability requirements,” Cimic CEO Juan Santamaría said in the statement.
Leighton Asia is part of Cimic, a construction and development engineering, mining and infrastructure services group, which also includes CPB Contractors, Thiess and UGL, among others.
The Spanish group ACS, chaired by Florentino Pérez, acquired the majority of the shares of the Australian conglomerate Leighton in 2014 and the following year changed the name of the company to Cimic (acronym for Construction, Infrastructure, Mining and Concessions).