ISG forms joint venture in Middle East

Interior Services Group has formed a 50:50 joint venture in Dubai to exploit the fast-growing markets in the Middle East.

The new business will trade as Al Habtoor ISG.

ISG’s jv partner is Al Habtoor Leighton, one of the largest construction groups in the Gulf region.

Based in Dubai, the jv will focus on the United Arab Emirates and the immediate surrounding area. Both parties aim to merge their respective interior fit-out capabilities into the new company.

Al Habtoor ISG will acquire:

• Al Habtoor Interiors
• ISG’s project management business in Dubai

Both will come on board at asset value.

The jv is expected to commence operations on 1 July.

Al Habtoor Leighton was established in September 2007 following the merger of Al Habtoor Engineering, the builder of the Burj al Arab hotel, and the Gulf operations of Leighton International.

This fledgling entity has immediately become the UAE’s largest construction group.

Leighton International is part of the Leighton Group, Australia’s largest project development and contracting group with annual turnover of more than £5bn.