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.
The contract was awarded to construction firm Al Rostamani Pegel.
The UAE and Saudi Arabia are thinking of beginning their partial operation of the network by 2018, said the country’s minister of public works
The firm expects its new shares to start trading on the Egypt exchange between March 9 and March 11.
The two sides agreed terms late last month, but the contract which Arabtec subsequently received included less attractive terms for the company.
The contract involves providing management consultancy services for all elevated and at-grade sections of the metro project.
The projects include upgrading liquefied gas and refinery facilities for national oil firm Saudi Aramco, the company said.
Around 42 per cent of the completed projects were residential buildings while 16.9 per cent were commercial buildings, a new study shows.
The contractor made a profit of Dhs13 million ($3.54 million) in the last quarter of 2014.
Saudi Arabian builder Abdullah Abdul Mohsin al-Khodari and Sons said on Thursday it had been…
Both contracts are for construction of residential villas in Dubai to be delivered in 2016, the company said.