Sovereign wealth fund Abu Dhabi Investment Council (Adic) has formally awarded the local/UK Al-Futtaim Carillion the estimated AED900m ($245m) contract to build its new headquarters in the UAE capital.

MEED reported in late October that the contractor had been selected for the contract (MEED 23:10:09).

The contractor will build the two, 25-floor towers and a basic fit-out. The London office of Aedas is the architect.

The investment fund will use one of the towers as its headquarters. The other will house the head office of Al-Hilal Bank, which is owned by the UAE government.

The other bidders for the contract were the local/Lebanese Arabian Construction Company (ACC); South Korea’s Samsung Corporation; a joint venture of South Africa’s Murray & Roberts Contractors (Middle East) and the local Al-Habtoor Engineering Enterprises; and the local/UK Aldar Laing O’Rourke (MEED 21:8:09).

The project is the second major corporate headquarters deal in Abu Dhabi to be awarded in 2009. In May, International Petroleum Investment Company (Ipic) awarded an estimated AED900m contract to the local Commodore Contracting Company for its headquarters.