Leighton secures £1.65bn Macau hotel resort contract

30 July 2013 (Last Updated July 30th, 2013 18:30)

Leighton Asia, India and Offshore (LAIO), a subsidiary of Leighton Holdings, has secured a A$2.8bn (£1.65bn) contract from Wynn Resorts to design and build a hotel resort in Macau, China.

Leighton Asia, India and Offshore (LAIO), a subsidiary of Leighton Holdings, has secured a A$2.8bn (£1.65bn) contract from Wynn Resorts to design and build a hotel resort in Macau, China.

The agreement follows the selection of LAIO as the preferred contractor for the project in November 2012.

The hotel and casino resort will be developed on a site with a floor area of over 450,000m² on the reclaimed land between the Macau islands of Taipa and Coloane, known as the Cotai Strip.

Under the deal, LAIO will build a hotel and a mixed-use podium featuring gaming, dining, retail and convention facilities.

Leighton Holding chief executive officer Hamish Tyrwhitt said the firms have developed a strong working relationship in the past ten years.

"The Leighton Group has operated in Asia for more than 40 years, where it has grown its presence extensively. This contract award supports our strategy of continued growth in this region and of increasing our contribution from our international operations," Tyrwhitt said.

Site preparation and piling works have already started, with the project anticipated to be complete by early 2016.

LAIO managing director Ian Edwards said the project represents company’s largest value contract to date.