They also approved plans to reduce the company’s capital and wipe out accumulated losses
The building company reported accumulated losses of Dhs4.6bn last year
Saudi Oger is struggling because of cuts in government spending and payment delays
The projects include two projects for the Ministry of Interior and one for the Ministry of Justice
Peter Pollard will succeed acting group CFO Ravi Murthy
Study details how foreign construction workers are left in “extreme debt” after securing a job in the GCC
The company has reported worsening earnings in nine of its last 11 quarters
Work on the 304-room Premier Inn is set to begin in Q2
SBG has been struggling because of delayed payments from the government
New roads will open next month following the completion of projects at Al Mamzar and Al Nahda 1
The order will comprise 262 escalators and 156 elevators for line 3 of the metro
The troubled firm plans to sell some non-core assets
The 29-storey tower is slated for completion in 2019
The contract is the seventh main stadium works to be awarded
Arabtec’s board said it was seeking shareholders’ approval for a Dhs1.5bn rights issue
The Dhs1.57bn Deira Night Souk project is slated to open before the end of 2018
The Saudi building sector was hit hard last year as the government delayed paying contractors for their work
Revenues shrank to Dhs3.24bn last year
Shares of Arabtec plummeted almost 10 per cent at the open after the results were disclosed
Moelis will reportedly studying options for the company’s capital structure
Madinat Al Arab, launched in 2005, was put on hold after the property crash
This year’s contracts will include construction of car parking, three districts and public areas
The total value of the firm’s backlog of uncompleted work stood at SAR2.85bn as of end-2016
The total value of project awards for 2017 is forecast at $27bn, which could rise to $32bn
Contractors in Saudi Arabia have had to deal with delays to projects and late payment
The development includes 2,924 apartments and townhouses spread across four clusters
A Dhs76m project will be undertaken to maintain and restore internal roads and bridges in Abu Dhabi
Workers from the construction company protested last year after their salaries were delayed
David Clifton explains how the region’s construction market can recover from a difficult 2016
The helmets are claimed to reduce body temperature by up to 10C