The shaky foundations of the most prominent builder in the UAE have dented the country's credibility. Shares in Dubai-based Arabtec, which helped erect the world's tallest tower in the emirate, have more than halved since May 15, wiping
Sharjah-based boat builder Al Marakeb has posted a 45 per cent increase in sales last year against its figures in 2012.
The company, which specialises in manufacturing ocean-going vessels, has also reported a 71 per cent increase
Dubai builder Arabtec, which secured one of its largest contracts to build part of Abu Dhabi's main airport in June, on Wednesday reported a loss in the second quarter as costs and expenses increased.
The largest bui
Dubai builder Arabtec's third quarter net profit surged more-than-fivefold beating analysts' forecasts, while revenues dipped slightly from the same period last year.
The largest builder in the UAE by market value made a net profit o
Dubai builder Arabtec has appointed Ibrahim Belselah as its chairman, the company said on Tuesday.
Belselah replaces Sheikh Butti bin Maktoum bin Juma Al Maktoum who resigned, Arabtec said in a statement on Dubai's bourse website. -
Dubai builder Arabtec is looking to more than double its workforce to 25,000 in Saudi Arabia as it continues to shift its focus to other markets, its chief financial officer said.
The company will not reverse provisions in 2011 and has no
Orascom Construction Industries (OCI) said on Wednesday its first-quarter net profit soared 77 percent year-on-year to $206.1 million.
The firm, Egypt's biggest listed builder and fertiliser maker, made net profit of $116.6 million in the
Hochtief's key shareholders ACS and Qatar strengthened their hold over Germany's largest builder, which rewarded them with forecast-beating profit and a bigger-than-expected dividend.
ACS now controls more than 39 per cent in Hocht
Emaar Properties, builder of the world's tallest building, plans to issue a benchmark dollar-denominated bond as part its $2 billion Islamic bond program, according to a source familiar with the matter.
The pricing of the five-and-a-ha