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.
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
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
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
Dubai's largest listed construction firm Arabtec swung to a net loss of Dh718.3 million ($195.59 million) in the three months to June 30 as against a profit of Dh102.4 million ($27.88 million) in the corresponding period of 2014.
Arabtec, the Dubai-listed construction company, has accepted the resignation of three senior members of staff as part of a reorganisation, it said on Wednesday.
It accepted the resignation of Iyad Abdalrahim, group chief financial
Arabtec Envirogreen Facilities Management (AEFM), an associate company of construction giant Arabtec, has teamed up with Securitas for providing security solutions to its key projects.
Daniel Batemans, head of Operations and spoke
Dubai-based builder Arabtec has received Egyptian cabinet approval for a housing project to build a million homes, said Egypt's assistant housing minister Khaled Abbas on Monday a day after media reports stated that the deal had fallen throu
Many construction firms have improved the efficiency of project delivery and construction workflows by leveraging Bentley’s i-models as a way of improving handoff and handover of 3D information models and project documentation.
Dubai's largest construction firm Arabtec swung to a first-quarter net loss on Wednesday, missing analysts' estimates, as costs surged.
The builder reported a loss attributable to equity holders in the parent of Dh279.82 m