Three of the Bin Laden family were arrested in last year’s corruption purge, and have now relinquished their 36.22 per cent stake in the family business to a subsidiary of the finance ministry
The projects were presented at an event in Riyadh designed boost the kingdom’s contracting sector
DSI, hit hard by the construction slowdown in the region, has seen several leadership changes
Construction, the largest single sector, declined by 13 per cent to $45.8bn last year
Road improvements will see widened streets and more flyovers to improve access
The latest contract marks Arabtec’s third award from Dubai Expo 2020
The company, which has accumulated losses of over Dhs1bn, is currently in the midst of a restructuring
The contract for Uptown Tower has been awarded to BESIX’s Dubai-based entity Belhasa Six Construct
The luxury tower, which rises 240 metres tall, will include a 289-room St. Regis hotel and 432 residences
Contracts cover construction of units at Akoya and in Business Bay
The firm’s construction arm will build 352 new villas at the master planned Villanova project
The troubled contractor is currently going through its second restructuring process in two years
While 865 developers were registered with the Dubai Land Department in 2018, one in four had projects currently active
The announcement comes as DSI shares remain suspended on the Dubai Financial Market
The company’s shares were suspended by Dubai Financial Market on Thursday
Reuters reported on Wednesday that the firm had appointed new advisors for its restructuring efforts
The Mohammed bin Rashid Library in Al Jaddaf is slated to be the ‘biggest cultural project’ in the Arab world when it opens
The firm has been hit by a slowdown in the regional construction sector over the past few years
The company has appointed Moelis & Co to advice and assist with debt financial modelling and structuring options
The contract from Expo Dubai 2020 involved the construction of the public areas in the concourses and arrivals plazas
The company also confirmed that an investigation was underway against the previous executive management
Shareholders were scheduled to meet on September 27 to decide whether to dissolve the company
Sassan Hatam examines the biggest tech disruptors and their impact on productivity
The new hub will feature an Olympic-size swimming pool, a massive gym, a clubhouse, spa and a medical centre
The contract has been signed with Gulf Crete
The company will hold a general assembly on September 27 to vote on whether it should continue operating
The company posted a second-quarter net loss of $49.3m, with shares down 82 per cent since the end of last year
Drake & Scull’s stock price has plunged 80 per cent this year and hit a record low last week
DSI has seen its share prices drop over 79 per cent so far this year
The two new marinas will accommodate a total of 44 boats and yachts up to 30 metres long