The construction sector’s contribution to the region’s GDP almost remained flat from 5.5 per cent in 2010 to 5.7 per cent in 2014
Project delays and problems with contracts and bureaucracy have left many in difficulties and their returns uncertain.
Awards include the main works packages of some of Damac’s residential units in Akoya project and its hotel apartment projects
The projects are part of Mohammed bin Rashid housing establishment and will be built for local families
About 11 new grounds were to be built as a means of growing the game in the kingdom but sources said only two will be built as state spending is hit by low oil prices.
The country said that not a single worker has died in its construction sites, dismissing rumours of 1,200 worker deaths.
Firms found flouting the rules will be fined Dhs 5,000 per worker while the penalty will rise to Dhs 50,000 if a large number of labourers are found to be working.
The unit will carry out work on the Oman Convention and Exhibition Centre in Seeb, two hotels in Saraya Bandar Jissah and an airport hangar-related facility.
The Gulf’s construction sector is estimated to reach a value of $172 billion in 2015, a new study said.
The labourers reportedly did not have the necessary work permits for the construction sector.
Egyptian officials have said the entire project will cost about 280 billion Egyptian pounds ($36.7 billion).
The announcement came two days after the pressure groups renewed their call on FIFA sponsors to put pressure on the governing body over the issue.
The Roads and Transport Authority has opened phase II of the main traffic diversion works on Al Wasl Road.
DSI’s first-quarter revenue was Dhs1.11 billion, down from Dhs1.25 billion a year earlier.
The builder reported a loss attributable to equity holders of Dhs279.82 million in the first quarter.
Partly because of higher labour costs, Khodari’s net profit tumbled 57 per cent from a year earlier to $3.7 million in the first quarter of this year.
Abu Dhabi businessman Mohamed Thani Murshed Ghannam al-Rumaithi was elected as the new chairman.
The mixed use project, in Dubai, is scheduled to be completed by 2016.
The total value of projects awarded in the GCC climbed to above $40 billion in Q1 2015.
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.