The departures, revealed via a filing last week, come following a turbulent year for the construction company.
The hotel is part of a development that also includes two residential buildings, Drake said in a bourse statement.
Raja Ghanma has been promoted from chief operating officer to CEO of Arabtec Construction, Arabtec Holding said in a bourse filing.
The company’s profit fell to Dhs100.7 million ($27.42 million) in 2014 from Dhs166.5 million a year earlier.
The statement comes as human rights group Sherpa filed a complaint against the company violated the rights of workers in its Qatar projects.
The statement comes as Sherpa NGO submitted a claim in a French court against Vinci Construction Grand Projects for “forced labour” in Qatar.
Arabtec said it would complete the project in Al Dhahran within 28 months.
Arabtec’s board has approved disposing of Arabtec Saudi Arabia, Arabtec Construction Machinery, Saudi Austrian Arabian Ready Mix Co and EFECO Saudi.
Non-recurring general and administrative expenses jumped 75 per cent to Dhs749.9 million last year.
The first phase of the network that is currently under testing is scheduled to begin operations soon, an official said.
Phase II and III of the project are 25 per cent and 15 per cent complete respectively, a senior official said.
The contract was awarded to construction firm Al Rostamani Pegel.
The UAE and Saudi Arabia are thinking of beginning their partial operation of the network by 2018, said the country’s minister of public works
The firm expects its new shares to start trading on the Egypt exchange between March 9 and March 11.
The two sides agreed terms late last month, but the contract which Arabtec subsequently received included less attractive terms for the company.
The contract involves providing management consultancy services for all elevated and at-grade sections of the metro project.
The projects include upgrading liquefied gas and refinery facilities for national oil firm Saudi Aramco, the company said.
Around 42 per cent of the completed projects were residential buildings while 16.9 per cent were commercial buildings, a new study shows.
The contractor made a profit of Dhs13 million ($3.54 million) in the last quarter of 2014.
Saudi Arabian builder Abdullah Abdul Mohsin al-Khodari and Sons said on Thursday it had been…
Both contracts are for construction of residential villas in Dubai to be delivered in 2016, the company said.
Drake & Scull Engineering will provide MEP services for an under-construction hotel and apartment complex.
Should it buy the permitted number of shares, Aabar’s stake would rise to 37.27 per cent.
Gulf Technical Construction Co will provide civil, architectural and MEP services for a high-rise residential tower in Dubai.
The contracts, awarded by ADNOC and ADCO, were awarded to Arabtec’s Target Engineering unit.
The company made a profit of SAR45.6 million ($12.2 million) in the last quarter of 2014.
Qatar was the most expensive construction market in the Middle East region in 2014, according to a study by EC Harris.
Rail projects across the GCC are expected to fuel intra-regional trade while helping reduce fuel consumption.
The company’s statement follows reports that it had assigned a consultant to advise on potential take over bids.
The project will include a new passenger terminal covering an area of 86,000 square metres and will be built to accommodate around five million passengers annually.