The amount will reportedly be used to cover redundancy costs for workers it is laying off, back salaries and severance costs
Emaar said it was exploring potential partnership opportunities with the company on its mega developments
In April, its chairman said Arabtec could break even this year and should return to profit in 2017
DSI has reported worsening earnings in seven of the preceding eight quarters
Earlier this month, workers at the company set fire to buses after more than 50,000 were laid off
On Monday, al-Watan newspaper reported that Binladin had laid off about 77,000 foreign workers
Between 12,000 and 17,000 Saudi employees are expected to be laid off
Binladin Group employees also say they have not been paid for six months
The company employs 200,000 people, according to its LinkedIn page
The construction company has lost about 77 per cent of its share value since May 2014
The new development aims to tap into the global wholesale sector.
Dubai ports operator says the investment could be in new terminals
Authority announced a 14 per cent increase in spending this year
The project still planned to have world’s largest shopping destination
The 1.5 million square feet mixed-use development is expected to be completed in 2018
Depressed global economic conditions have caused a 15-20 per cent fall in demand from investors, say developers
The city consists of a commercial market, 55 residential complexes and Qatar’s second largest mosque
Habtoor Group is planning to focus on its 100-per cent-owned assets including hotels, real estate and schools as part of its strategy
The contractor did not specify the name of the mall or the hotel it is building
The developer has confirmed the builders of Deira Islands Night Souk, Warsan Souk and The Circle Mall
The project announced in March 2014 has stalled, highlighting Egypt’s habit of promising grandiose ventures and then struggling to deliver
The UAE has sufficient funding for all its planned infrastructure projects, says minister of Public Works
Officials did not give a reason for the delay in building work at the $650m project
The company will develop over 72,000 square metres of food and beverage concepts and retail outlets in Jumeirah
The insurance firm said it had received the claim on September 13 and it had appointed evaluators to determine the damage caused by the accident
King Salman also ordered that the group’s board members and senior executives be barred from travel abroad
Previously awarded projects are continuing without impact, experts say
The official did not give a reason for downsizing the project
All the latest news and updates from Dubai’s biggest property event
Construction work on the tower is anticipated to begin next year