Giant contracting firm Leighton Holdings Ltd (ASX: LEI) announced on Wednesday that it is set to replace the current builder of a landmark project at Dubai International Financial Centre following the finalisation of its $220 million deal with UAE-based Daman Investments.

Leighton said that it will take over from Saudi Arabian real estate developer Oger Dubai once its contact expires in January next year and the company would be represented by its subsidiary, the Al Habtoor Leighton Group, where the company keeps a 45 percent interest.

Daman made its announcement in May that Al Habtoor would continue on as the new contractor for the financial complex where Leighton is set to construct a 20 storey office block, a 60 storey hotel and a 60 storey apartment block.

The company said that all structures would be inter-connected by an intricate steel attachment to be installed on the towers and completion date is scheduled on December 2011.

Al Habtoor chief executive Laurie Voyer hailed the multi-million contract as a testament of the company's unwavering commitment to the Dubai market, adding that in spite of the adjustments seen in the area's building industry, "there are still a number of prospects for us with clients who value quality and creative delivery mechanisms."

Mr Voyer also stressed that as far as Leighton's reputation in Dubai, "it is second to none and we have a proven track record in delivering high quality buildings across the Emirate," adding that Dubai is on the map of the group's future growth plans.