Arabtec made a net loss attributable of Dhs 718.3m in the three months to June 30
The real estate investment trust fund will build the facility and lease it to Jebel Ali School
DSI will undertake mechanical, electrical and plumbing works for the educational institution, slated for completion in 2018
The developer did not provide any details about the projects
Officials said the worker’s death in June was the first fatality that happened on site
The Spanish trainmaker won the $201m contract in February, following a feasibility study into building a high-speed rail line between Riyadh and Dammam
The changes follow a series of management upheavals at the company since June last year
Failure in administering the contract, poorly drafted claims and biased professionals were some of the top reasons for construction disputes in the Middle East, a new study shows
Nationals from the UAE currently hold 51.02 per cent of the company’s stock, with the remaining GCC nations owning 5.85 per cent
The project is the first major initiative of the ‘Museum of the Future’, a scheme to develop and deploy cutting edge prototypes across Dubai
The contract includes construction of 8.5km of beaches, 3.5km of quay walls and 9.5km of rock revetments at two of the four Deira Islands
The construction sector’s contribution to the region’s GDP almost remained flat from 5.5 per cent in 2010 to 5.7 per cent in 2014
Project delays and problems with contracts and bureaucracy have left many in difficulties and their returns uncertain.
Awards include the main works packages of some of Damac’s residential units in Akoya project and its hotel apartment projects
The projects are part of Mohammed bin Rashid housing establishment and will be built for local families
About 11 new grounds were to be built as a means of growing the game in the kingdom but sources said only two will be built as state spending is hit by low oil prices.
The country said that not a single worker has died in its construction sites, dismissing rumours of 1,200 worker deaths.
Firms found flouting the rules will be fined Dhs 5,000 per worker while the penalty will rise to Dhs 50,000 if a large number of labourers are found to be working.
The unit will carry out work on the Oman Convention and Exhibition Centre in Seeb, two hotels in Saraya Bandar Jissah and an airport hangar-related facility.
The Gulf’s construction sector is estimated to reach a value of $172 billion in 2015, a new study said.
The labourers reportedly did not have the necessary work permits for the construction sector.
Egyptian officials have said the entire project will cost about 280 billion Egyptian pounds ($36.7 billion).
The announcement came two days after the pressure groups renewed their call on FIFA sponsors to put pressure on the governing body over the issue.
The Roads and Transport Authority has opened phase II of the main traffic diversion works on Al Wasl Road.
DSI’s first-quarter revenue was Dhs1.11 billion, down from Dhs1.25 billion a year earlier.
The builder reported a loss attributable to equity holders of Dhs279.82 million in the first quarter.
Partly because of higher labour costs, Khodari’s net profit tumbled 57 per cent from a year earlier to $3.7 million in the first quarter of this year.
Abu Dhabi businessman Mohamed Thani Murshed Ghannam al-Rumaithi was elected as the new chairman.
The mixed use project, in Dubai, is scheduled to be completed by 2016.
The total value of projects awarded in the GCC climbed to above $40 billion in Q1 2015.