Dubai-based contractor HLG Contracting has rebranded at BIC Contracting. The rebrand follows a change in shareholding at the company in 2016 when Khalaf al-Habtoor divested his share in the company.

BIC Contracting is working on a number of projects in Dubai, including the Gate Avenue retail spine at Dubai International Financial Centre, and the road interchanges next to Dubai International airport. Although its remains active in the UAE market, the company is not as dominant as it has been in the past when it worked a major projects such as the expansion of Dubai International airport and the Burj al-Arab hotel.

What Khalaf al-Habtoor’s Al-Habtoor Holding divested from HLG it transferred its 27.5 per cent stake in the company to Riad Sadik. Sadik now holds 55 per cent in the company and Australia’s Cimic holds 45 per cent.

Sadik founded Al-Habtoor Engineering Enterprises, which became HLG, with Khalaf al-Habtoor in 1970. He has been a director at HLG since it was formed in 2007 when Leighton, which rebranded as Cimic, acquired a 45 per cent stake in Al-Habtoor Engineering Enterprises.