Al Faisal Holding (AFH) has issued a statement in relation to media reports on its settlement with Habtoor Leighton.
“Al Faisal Holding has, in good faith, entered into a settlement agreement with Habtoor Leighton Group (HLG) on April 6, 2014.
“HLG has undertaken that it will complete the works on the Phase III City Center Expansion project (consisting of three hotel towers) no later than six months from the signing date. The settlement agreement also provides for milestone payments to be made, which are directly related to HLG’s six month completion of works schedule, and the completion of any snags relating to the works.
As a result of the settlement agreement, AFH has dismissed the various legal cases it has filed in Qatari courts related to this matter.”
