Saturday 6 February 2016
 
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Arabtec

Oil, global markets weigh on region but Saudi petchems rise

Most Middle Eastern bourses fell on Thursday as investors remained worried by the chronic weakness of oil prices and declines in international bourses, but Saudi Arabia's stock index edged up on the back of petrochemical shares.

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Oil, global markets weigh on region but Saudi petchems rise

Most Middle Eastern bourses fell on Thursday as investors remained worried by the chronic weakness of oil prices and declines in international bourses, but Saudi Arabia's stock index edged up on the back of petrochemical shares.

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Aldar awards $545m luxury villa contract to Arabtec

Abu Dhabi's Aldar Properties has awarded a Dh2-billion ($544.5 million) contract to Dubai's Arabtec to build 1,017 luxury villas in the UAE capital, Aldar said on Monday. The villas are expected to be handed over to owners

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Arabtec replaces acting CEO

Dubai-listed builder Arabtec has replaced its acting chief executive and put another board member in temporary charge, two sources familiar with the matter said. The loss-making firm, whose largest shareholder is Abu Dhabi state fund Aa

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Arabtec plans to build 13,000 homes in Egypt

Dubai builder Arabtec has submitted a proposal to Egypt's government to construct 13,000 homes in the North African country, the firm's chairman told Reuters on Monday. In March 2014, Arabtec signed a memorandum of underst

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Arabtec swings to Q3 net loss

Dubai-listed builder Arabtec swung to a net loss of Dh944.8 million ($257.3 million) in the three months to September 30, it said in a statement to Dubai's bourse. This compares with a profit of Dh68.7 million in the correspon

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Egyptians' dream shattered as $35bn housing scheme stalled

Egypt had signed a deal with UAE-based Arabtec, for a high-profile $35-billion housing project, in March this year. But now the development work has ground to a halt thus bringing Egyptians' big dreams to harsh reality, said experts.

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Egypt downsizes housing project with Arabtec

Egypt's Housing Ministry has scaled back the size of a house-building project with the UAE-based Arabtec to 100,000 homes from the originally agreed one million, a local newspaper reported on Tuesday. Arabtec, Dubai's larg

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No progress on Egypt homes project: Arabtec

United Arab Emirates-based builder Arabtec on Wednesday denied a media report that it would only develop the first phase of a project in Egypt to build one million homes. The company announced more than a year ago that it had agre

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Arabtec denies retreat from Egypt project

Dubai-listed builder Arabtec issued a statement on Thursday denying a media report that it was withdrawing from a planned project to build one million homes in Egypt. "The company...reaffirms that it's still discussing so

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