Jeddah Tower, rising over 1km high, is now expected to open in 2019
Yuksel has so far completed 39 projects in the kingdom worth SAR8.12bn
The three-tower residential, retail and beach club complex will take two and a half years to complete
Situated at a height of over 220 metres, the Sky Bridge is billed as a new tourist attraction
The company may consider all legal options including arbitration to recover the remaining amount
Boyd Merrett has been appointed CEO of Arabtec Construction
The profit came on higher revenues of Dhs2.17bn in Q1
The roads and infrastructure contract has been awarded to Proscape
All the infrastructure work at the project is slated for completion in 2018
They also approved plans to reduce the company’s capital and wipe out accumulated losses
The building company reported accumulated losses of Dhs4.6bn last year
Saudi Oger is struggling because of cuts in government spending and payment delays
The projects include two projects for the Ministry of Interior and one for the Ministry of Justice
Peter Pollard will succeed acting group CFO Ravi Murthy
Study details how foreign construction workers are left in “extreme debt” after securing a job in the GCC
The company has reported worsening earnings in nine of its last 11 quarters
Work on the 304-room Premier Inn is set to begin in Q2
SBG has been struggling because of delayed payments from the government
New roads will open next month following the completion of projects at Al Mamzar and Al Nahda 1
The order will comprise 262 escalators and 156 elevators for line 3 of the metro
The troubled firm plans to sell some non-core assets
The 29-storey tower is slated for completion in 2019
The contract is the seventh main stadium works to be awarded
Arabtec’s board said it was seeking shareholders’ approval for a Dhs1.5bn rights issue
The Dhs1.57bn Deira Night Souk project is slated to open before the end of 2018
The Saudi building sector was hit hard last year as the government delayed paying contractors for their work
Revenues shrank to Dhs3.24bn last year
Shares of Arabtec plummeted almost 10 per cent at the open after the results were disclosed
Moelis will reportedly studying options for the company’s capital structure
Madinat Al Arab, launched in 2005, was put on hold after the property crash