Cimic, part of the ACS Group, signs a real estate contract in India for 114 million euros.
Cimic, part of the Spanish ACS group, announced on Monday that Leighton Asia, one of its subsidiaries, has been awarded a contract to build a luxury residential project in India that will generate revenues of A$190 million ($122 million or 114 million euros).
The Presidential project, to be developed by Indian real estate group Elan in Gurgaon (about 30 kilometres from New Delhi), is the largest residential project Leighton Asia has been awarded to date, according to a statement released today by Cimic.
Leighton Asia – which has been operating in India for 25 years – will be in charge of the civil and structural works in the first phase of this project, which covers some 487,000 square metres, eight 32-storey towers each with a height of 116 metres.
The ACS subsidiary’s project is based on environmental and energy designs.
The project, which will be completed in the first quarter of 2027, is based on environmental and energy designs, Cimic said.
“Leighton Asia has a strong track record of delivering flagship residential and commercial projects in India that meet safety, quality and sustainability requirements,” Cimic CEO Juan Santamaria emphasised 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 a majority stake in the Australian conglomerate Leighton in 2014 and the following year changed the company’s name to Cimic (acronym for Construction, Infrastructure, Mining and Concessions).
Australia’s Cimic is also one of the most active companies in the construction, mining and other services sector, including those related to energy, on the Asian continent, where it has a strong presence in countries such as Indonesia.
