Dubai-based Al Habtoor Holding said it has sold all of its shares in construction firm Habtoor Leighton LLC (HLG) Contracting (formerly Habtoor Leighton).

HLG was formed in 2007 following the merger of UAE-based contractor Al Habtoor Engineering with Gulf Leighton – a unit of Australia’s Cimic Group.

Under its new business strategy, the company said it would henceforth focus on the group's core businesses.

In a statement, the chairman of Al Habtoor Group, Khalaf Ahmad Al Habtoor, said: "I took a strategic decision to depart from HLG, and my main focus shall be on Al Habtoor Group’s core businesses such as hospitality, real estate, automotive, education, and publishing."

The divestment move comes several months after Al Habtoor said he planned to offload the shares.

"I am delighted to have founded such an exceptional construction company in 1970 which to date has built many landmarks in the UAE. I wish HLG Contracting LLC, its shareholders, clients and employees great success," he added.-TradeArabia News Service